Elusive street artist Banksy on Thursday confirmed he was behind a new work drawing crowds in central London: a statue of a suited man striding into the void while holding a flag that blocks his view.

The monument, which has Banksy’s name scrawled on the base, first appeared on Wednesday just off the central street of Pall Mall.

The man depicted is mounted on a plinth, with one leg striding off it, and appears to be blindly stepping off the platform without knowing it, thanks to the flag...