Ullico, a privately held specialty insurance, has appointed Edward Smith as the company's new CEO, effective 3 January 2011.

Smith has served as Ullico’s president since May 2008. He joined Ullico in January 2007 as executive vice president.

In addition to his work with Ullico and Laborers’ International Union of North America (LIUNA), Smith served as the chairman of the Illinois State Board of Investment, chairman of the National Alliance for Fair Contracting and was a member of the Illinois Department of Labor Advisory Board.

Smith will take the reins from Edward McElroy who will be retiring at the end of the year.