Hugh McColl

Hugh L. McColl Jr. (born 18 June 1935) is a fourth-generation banker and the former Chairman and 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".

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

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." 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". As a young man, McColl along with a colleague had envisioned creating the first truly national bank with branches from coast to coast.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.