Labor Related Services

Supporting Labor-Affiliated Organizations

Labor-affiliated organizations and funds face unique financial challenges—the regulation and oversight of the U.S. Department of Labor and other agencies, considerations of union stakeholders and political and media scrutiny. Negotiating these issues requires careful consideration and expertise. Lakewood Advisors’ Managing Director, Edward Grebow, has extensive experience supporting many types of enterprises in these areas. He led successful turnarounds of the two largest financial institutions owned by organized labor when these companies ran into serious financial difficulties.

  • ULLICO
    In 2003, union-owned insurance company ULLICO became the subject of Congressional and criminal investigations. It was under scrutiny from regulatory and rating agencies and approaching insolvency. As president of ULLICO, Ed Grebow worked to resolve investigations and regulatory issues and to recapitalize the company. Under his direction, ULLICO’s financial health was restored in less than three years. Today it is a thriving insurance company serving unions and union-affiliated benefit plans.
  • Amalgamated Bank
    Another union-affiliated entity, Amalgamated Bank, which was founded by the Amalgamated Clothing Workers Union, turned to Ed Grebow in 2011, when faced with FDIC takeover because of problematic loans made during period leading up to the financial crisis of 2008. Grebow helped the bank resolve its loan portfolio and regulatory sanctions, raise new capital and hire a competent management team. Today the bank continues to serve its traditional client base of consumers and labor unions and has grown in new directions, working most notably with political organizations and sustainability initiatives.

What We Do

Lakewood Advisors brings together a wealth of experience advising labor-affiliated organizations as well as companies that have labor-related concerns. Our approach to restoring financial health includes developing solutions that maintain positive labor-management relations. Lakewood Advisors is always available for confidential consultations with labor leaders and corporate executives facing business and financial challenges.