Insurance and financial services holding company ULLICO has announced that Edward Smith, currently executive vice president, a life-long member and long-time regional leader of the Laborers' International Union of North America, will become the president of the company.

The board of directors of ULLICO has approved the appointment of Mr Smith, which will become effective as of May 1, 2008.

Since January 2007, Mr Smith has held simultaneous positions with Laborers’ International Union of North America (LIUNA) as vice president of midwest regional manager and assistant to the president, and with ULLICO as executive vice president.

After 40 years of serving LIUNA in many roles, Mr Smith will retire from the union to become ULLICO president.

Joseph Hunt, the board chairman of ULLICO, said: Ed’s deep roots in the Union movement and commitment to organized labor make him an exceptional asset for ULLICO. He has a profound understanding of the needs of America’s workers and his rich experience will continue to be a valued resource for us in this key leadership role.