Ulli Lederer was one of the best Austrian ice hockey players of the 1920s, but he started playing bandy for Cottage EV in Wien (Vienna) in the 1914/15 season. Most of his career was spent with Wiener EV, but he also had short spells with VfB Wien, Wiener AC and the Slovakian club CsSK Bratislava, and finished his career with clubs in Italy and Romania. With Wiener EV Lederer won several Austrian national titles, and the forward represented Austria at seven international tournaments. In addition to the 1928 Olympics, Lederer competed at four separately held European Championships (1925-29) and two World Championships (1930, 1931) playing 34 games and scoring 21 goals. With him, the team was European Champion in 1927 and 1931, the latter concurrent with the bronze medal at the World Championships. He was nominated for the Austrian ice hockey team that was withdrawn from the 1924 Olympic tournament at the last minute. In 1934 Lederer went to Italy to coach the national team and the club teams of HC Bolzano and SG Cortina, and Lederer still played for these clubs occasionally. For his last season (1935/36) Lederer joined Dragos Voda Cernauti and coached the Romanian national team.
During the 1930s Lederer tried to introduce ice hockey to women in Austria but to no avail. He was actually a Czechoslovakian citizen, serving in the Czechoslovakian Army in 1925, and in 1926, at the European Championships, the Czechoslovakian team filed a protest to the LIHG, claiming he should be ineligible to play for Austria because of his Czechoslovakian citizenship and previous military duty.