Ullico is launching a fixed-income investment management firm, confirmed company spokeswoman Corinne Houlihan in an email.
The new investment company, UIA Investment Management, will provide a range of customized U.S. fixed-income strategies to institutional investors. The firm will be based in Chapel Hill, N.C., and is expected to open early next year with approximately $500 million in assets under management.
Stephen A. Eason, a former senior manager at Amundi Smith Breeden, will lead the new firm. Julie E. Curd, former director of client service at Amundi Smith Breeden, is also joining the firm as director of client service and a member of the firm's executive committee.
UIA-IM will operate independently from Ullico's other investment management unit, Ullico Investment Advisors.
Ullico's subsidiaries currently manage more than $5 billion in AUM.