Hugh McColl

Hugh McColl
McColl in 2009
Born (1935-06-18) June 18, 1935 (age 89)
Alma materUniversity of North Carolina at Chapel Hill (BSBA)
Known forFormer Chairman, CEO Bank of America
SpouseJane Bratton Spratt McColl
Websitehttp://www.falfurriascapital.com

Hugh L. McColl Jr. (born 18 June 1935) is a former business executive who was the CEO of NationsBank[1] and the former chairman and the first CEO of Bank of America. Active in banking since around 1960, McColl was a driving force behind consolidating a series of progressively larger, mostly Southern banks, thrifts and financial institutions into a super-regional banking force, "the first ocean-to-ocean bank in the nation's history".[2]

Tony Plath, director of banking studies at the University of North Carolina at Charlotte, described this transformation in 2005 as "the most significant banking story of the late 20th century."[3] In 2012, journalist Matt Taibbi described the transition as "a cartoonish arms race of bank acquisitions that would ultimately turn the American business world upside down".[4] As a young man, McColl along with a colleague [3] had envisioned creating the first truly national bank with branches from coast to coast.[3]

  1. ^ "Hugh L. McColl, Jr. - Leadership - Harvard Business School". www.hbs.edu. Retrieved 2024-05-26.
  2. ^ Ross Yockey (1 December 1999). "Hugh McColl: Seasoned Banker". Allbusiness.com.
  3. ^ a b c Craig Whitlock and Irwin Speizer (17 December 2005). "1997: Hugh McColl, Tarheel of the Year". Charlotte News and Observer. Archived from the original on 7 October 2008. Retrieved 8 September 2009.
  4. ^ Cite error: The named reference rs was invoked but never defined (see the help page).