Hugh McColl

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Hugh L. McColl Jr. (born 18 June 1935) is an American banker who was a driving force behind the consolidation that characterizes the commercial banking industry today.

McColl came from a line of bankers and was born and raised in Bennettsville, South Carolina, and graduated from the University of North Carolina at Chapel Hill. McColl then joined the United States Marine Corps. After serving a tour of duty, approximately two years later, he was honorably discharged and returned to North Carolina to work for a small regional banking company in Charlotte, North Carolina as a management trainee. This company would later be known as North Carolina National Bank, and McColl would rise through the ranks to become its CEO and Chairman.

Vigorously competitive, he deployed a military approach to transforming his small regional bank through acquisitions to NationsBank and then Bank of America.

McColl maintained an "enemies list" in his pocket of his primary competitors, and once threatened to "launch his missiles" at an acquisition candidate to push the deal forward.^{[citation needed]} This attitude was embraced by the small bank executives, who through the years proved their industry leadership. When questioned about his aggressive attitude towards competitors, McColl once remarked to a group of business students that "People say don't be edgy. I just don't know any other way."^{[citation needed]}

After his retirement from Bank of America in 2001, he partnered with other Charlotte banking executives to form McColl Partners, an investment banking firm, and in 2003, he opened McColl Fine Art, an art gallery, also in Charlotte. McColl has been a benefactor of the arts and civic causes in the Carolinas, and the headquarters of the Kenan-Flagler Business School at UNC-Chapel Hill was named the McColl Building upon its completion in 1997 in recognition of McColl's efforts on behalf of his alma mater. McColl is also an active mentor of the McColl Business School at Queens University of Charlotte.

McColl's family consists of two sons and a daughter who have pursued careers of their own, along with grandchildren. One of whom, also named Hugh McColl, is in the 2012 class of The Lawrenceville School. He is married to jane Spratt McColl, sister of Congressman John Spratt (D-SC).

On 26 April 2007, Hugh McColl was inducted into the Junior Achievement U.S. Business Hall of Fame.

[edit] References

• Hugh L. McColl, Jr. at Legacy of Leadership
• McColl Partners investment bankers