Feb 28 (Reuters) - State Street's asset management unit

on Friday dropped targets for the number of women and minority

directors who should serve on corporate boards, according to new

proxy voting guidance posted on its website.

The changes were in line with those of other major asset

managers under political pressure, shifts likely to slow the

pace at which boardrooms become less white and male.

But the change was striking for State Street, which in

March 2017 installed the famous "Fearless Girl" statue in

Manhattan's financial district as part of a campaign to increase

gender diversity in business.

Along those lines, the global proxy voting policy of State

Street Global Advisors as of March 2024 stated the firm expected

boards of companies in major indexes to be 30% female or risk

votes against nominating committee members. Larger S&P 500

companies were also expected to have at least one racial or

ethnic minority director.

Those targets do not appear in new guidance as of March 2025

from the Boston-based asset manager, however.

Instead State Street wrote that board nominating committees

are "best placed" to determine composition

A State Street representative did not immediately comment.