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1954-2024
Edward M. Smith
Edward M. Smith, Chairman and CEO at Ullico Inc., passed away with his family at his side on January 3, 2024. He was 69 years old. Ed was inducted into NAC in 2021.
A champion of the American Labor Movement and revered business leader, Ed Smith left every place he worked better than he found it. From his earliest days at the Laborers’ Union (LiUNA), through his tenure as Chairman and CEO of Ullico, a labor-owned financial services firm, he moved boldly seizing opportunities and developing strategies to advance the labor movement’s goals.
Born on September 9, 1954, in Cairo, Illinois to Connell F. Smith and Mary Jewel Smith, Ed thought of the labor movement as his calling rather than a job. Ed joined Laborers’ Local 773 at age thirteen, worked as a laborer shortly after, and was elected Local 773 Business Manager by age twenty-one. He would go on to be a fifty-six-year member of the union, leaving a tremendous impact on the union and touching the lives of many.
Ed’s passion for the cause, whip-smart intelligence, and personality produced success in everything he touched. He was the first LiUNA member in the country to graduate from the National Labor College. He participated in the Harvard Trade Union Program—attending classes with Harvard MBA students and debating case studies in labor history. Keenly aware of the role politics played in advancing labor’s interests, he devoted himself to understanding the legislative process and forged relationships with decision makers and government leaders.
During his tenure as Laborers’ Local 773 Business Manager, he boosted membership from 300 to nearly 4,000. Over the course of his career, he moved up through the ranks within LiUNA, winning election as Southern Illinois Laborers’ District Council Business Manager in 1985 and later becoming Chairman of the Central Laborers’ Pension Fund. In 1994, he was appointed Midwest Regional Manager and was elected as Vice President and Regional Manager of LiUNA and also served as Assistant to the General President. Under his leadership, the Midwest Region expanded from three to ten states.
He strengthened LiUNA’s political influence throughout the Midwest Region, increasing lobbying efforts and urging members to run for local office. He served on the Democratic National Committee and was a delegate to many national conventions. A committed advocate for protecting construction workers’ rights, he helped forge the National Alliance for Fair Contracting. During his time as Vice President and Regional Manager, he was appointed to the Illinois State Board of Investment and served as Chairman.
Ed joined Ullico in 2008 and offered bold leadership. At the time, the company was facing serious financial obstacles. Undaunted, Smith assembled an experienced management team and redoubled the company’s commitment to the labor movement.
Frustrated that investment managers often invested union funds with companies that were anti-union, Smith developed plans for an infrastructure fund that could offer a competitive return on investment dollars while also including union construction mandates and neutrality on worker organizing efforts.
Despite vocal critics saying it couldn’t be done, Smith’s force of will, deep network of relationships, and practical understanding of the labor movement helped him and his investment team raise the necessary capital to launch the fund. More than a decade later, the Ullico Infrastructure Fund is a pillar of the company’s run of tremendous success over the last five years.
Ed had a tremendously successful career, but he was more than his job. He was a devoted husband, father, and grandfather. He was also a loyal friend and would be the first to congratulate you during the exciting moments of success or be there to offer support if you experienced a tragedy.
A sports fan, Ed rooted for the Kentucky Wildcats and his beloved St. Louis Cardinals. He was an avid reader and loved to discuss labor history with any curious listener. Ed never met a stranger and made friends wherever he went.
He will be dearly missed, but Ed’s profound impact will live on through his accomplishments and the countless stories told by all those whose lives he touched.
― Joe Hunt, 2024
A champion of the American Labor Movement and revered business leader, Ed Smith left every place he worked better than he found it. From his earliest days at the Laborers’ Union (LiUNA), through his tenure as Chairman and CEO of Ullico, a labor-owned financial services firm, he moved boldly seizing opportunities and developing strategies to advance the labor movement’s goals.
Born on September 9, 1954, in Cairo, Illinois to Connell F. Smith and Mary Jewel Smith, Ed thought of the labor movement as his calling rather than a job. Ed joined Laborers’ Local 773 at age thirteen, worked as a laborer shortly after, and was elected Local 773 Business Manager by age twenty-one. He would go on to be a fifty-six-year member of the union, leaving a tremendous impact on the union and touching the lives of many.
Ed’s passion for the cause, whip-smart intelligence, and personality produced success in everything he touched. He was the first LiUNA member in the country to graduate from the National Labor College. He participated in the Harvard Trade Union Program—attending classes with Harvard MBA students and debating case studies in labor history. Keenly aware of the role politics played in advancing labor’s interests, he devoted himself to understanding the legislative process and forged relationships with decision makers and government leaders.
During his tenure as Laborers’ Local 773 Business Manager, he boosted membership from 300 to nearly 4,000. Over the course of his career, he moved up through the ranks within LiUNA, winning election as Southern Illinois Laborers’ District Council Business Manager in 1985 and later becoming Chairman of the Central Laborers’ Pension Fund. In 1994, he was appointed Midwest Regional Manager and was elected as Vice President and Regional Manager of LiUNA and also served as Assistant to the General President. Under his leadership, the Midwest Region expanded from three to ten states.
He strengthened LiUNA’s political influence throughout the Midwest Region, increasing lobbying efforts and urging members to run for local office. He served on the Democratic National Committee and was a delegate to many national conventions. A committed advocate for protecting construction workers’ rights, he helped forge the National Alliance for Fair Contracting. During his time as Vice President and Regional Manager, he was appointed to the Illinois State Board of Investment and served as Chairman.
Ed joined Ullico in 2008 and offered bold leadership. At the time, the company was facing serious financial obstacles. Undaunted, Smith assembled an experienced management team and redoubled the company’s commitment to the labor movement.
Frustrated that investment managers often invested union funds with companies that were anti-union, Smith developed plans for an infrastructure fund that could offer a competitive return on investment dollars while also including union construction mandates and neutrality on worker organizing efforts.
Despite vocal critics saying it couldn’t be done, Smith’s force of will, deep network of relationships, and practical understanding of the labor movement helped him and his investment team raise the necessary capital to launch the fund. More than a decade later, the Ullico Infrastructure Fund is a pillar of the company’s run of tremendous success over the last five years.
Ed had a tremendously successful career, but he was more than his job. He was a devoted husband, father, and grandfather. He was also a loyal friend and would be the first to congratulate you during the exciting moments of success or be there to offer support if you experienced a tragedy.
A sports fan, Ed rooted for the Kentucky Wildcats and his beloved St. Louis Cardinals. He was an avid reader and loved to discuss labor history with any curious listener. Ed never met a stranger and made friends wherever he went.
He will be dearly missed, but Ed’s profound impact will live on through his accomplishments and the countless stories told by all those whose lives he touched.
― Joe Hunt, 2024
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