Ullico Board of Directors Approves Changes to Leadership
Washington, D.C. — Ullico Inc., the only labor-owned insurance and investment company, announced today changes to its board of directors and management team. The changes are in keeping with the company’s strategic succession plan following the untimely passing of CEO and Chairman of the Board Edward M. Smith.
• Terry O’Sullivan is named Chairman of the Board. Terry is the General President Emeritus, Laborers’ International Union of North America, and the longest tenured director on Ullico’s board, at twenty-four years. He previously served as Chairman from 2003 to 2006. A nationally renowned union leader, he has dedicated his life to fighting for American workers. Terry is a vocal advocate of the power of Labor’s capital and understands the essential role Ullico plays in the American Labor Movement.
• Brian J. Hale is named Chief Executive Officer of Ullico. The Board of Directors has elected current President Brian Hale as the company’s CEO, effective immediately. Brian joined Ullico in 2008. From 2014 to 2023, he served as Senior Vice President and Chief Operating Officer, with responsibility for the day-to-day operations of the Company. In 2023, Brian was named President and Chief Operating Officer. He will continue in his role as President. Brian comes from a union family and is a proud third-generation union member from Tennessee.
“Ullico mourns the loss of Ed Smith, a great leader and visionary. Thankfully, the company is in good hands. Our new CEO, Brian Hale offers a unique combination of deep labor roots, MBA credentials and years of senior executive leadership experience at Ullico. The board is confident that the company’s management team will continue Smith’s legacy as a champion of the American Labor Movement,” said Chairman Terry O’Sullivan.
“We will navigate this period of change with resilience and unity,” said CEO and President Brian Hale. “The board and I are dedicated to carrying out Ed Smith’s commitment that Ullico must serve the needs of working men and women while maintaining a successful business model on behalf of our shareholders.”
The Ullico Inc. family of companies provides insurance and investment solutions for labor organizations, union employers, institutional investors and union members. Founded 95 years ago, the company takes a proactive approach to anticipating labor’s needs, developing innovative financial and risk solutions and delivering value to our clients. Our products are tailored to promote financial security and stability for American workers.