NEW YORK, April 19 (Xinhua) -- The Fearless Girl statue, which has faced off the famous Charging Bull in New York City's financial district for more than a year, will be relocating to a spot in front of the New York Stock Exchange, officials said.

The move is expected to be completed by the end of 2018, said New York City Mayor Bill de Blasio in a statement on Thursday.

"We are proud to be home to the Fearless Girl. She is a potent symbol of the need for change at the highest levels of corporate America - and she will become a durable part of our city's civic life," de Blasio said.

"This move to a new location will improve access for visitors and ensure that her message and impact continues to be heard," he said.

The new, long-term home will also alleviate safety issues arising from the large numbers of pedestrians and visitors drawn to the statue, which has been located on a narrow median on Broadway, he said.

The 4-foot bronze statue was originally installed by State Street Global Advisors, the financial services company, on the eve of International Women's Day in March 2017, with an aim to call attention to the role of women in corporate America.

Since Fearless Girl's placement, more than 150 companies have now added a woman to their board, said State Street Global Advisors President and Chief Executive Officer Cyrus Taraporevala, "Our hope is that by moving closer to the NYSE she will inspire many more companies to take action."

"We eagerly await the arrival of Fearless Girl to her fitting new home, standing her ground and training her unblinking eyes on our engine of progress and free enterprise," said Thomas Farley, President of the New York Stock Exchange. "The historic corner of Wall & Broad saw the swearing in of our country's first president and the birth of our capital markets, and is joined now by a striking symbol of our ongoing journey toward greater equality, broader inclusion, and a more perfect union."

"I am thrilled Fearless Girl will remain in New York, inspiring global collaboration between genders for better decisions, and an improved environment at every strata of society," said Kristen Visbal, Fearless Girl sculptor.