Hugh McColl | |
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![]() McColl in 2009 | |
Born | |
Alma mater | University of North Carolina at Chapel Hill (BSBA) |
Known for | Former Chairman, CEO Bank of America |
Spouse | Jane Bratton Spratt McColl |
Website | http://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]
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