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Kathleen Moriarty, aka ‘Spider Woman,’ Helped Launch Exchange-Traded Funds

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Obituary: Securities lawyer Kathleen Moriarty, who died at 69, was called 'Spider Woman' for helping to launch the SPDR S&P 500 fund

As a securities lawyer, Kathleen H. Moriarty was known for her ability to persuade staff members at the Securities and Exchange Commission that they could live with strange new types of investments.

Her greatest triumph was exchange-traded funds, or ETFs, a type of asset that regulators pondered for years before approving. In 1993, she helped launch the hugely successful SPDR S&P 500 ETF .

 

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