Hugh L. McColl Jr. (born 18 June 1935) is a fourth-generation banker
and the former Chairman and CEO of
Bank of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...
. 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".
Tony Plath, director of banking studies at the
University of North Carolina at Charlotte
The University of North Carolina at Charlotte (UNC Charlotte or simply Charlotte) is a public research university in Charlotte, North Carolina. UNC Charlotte offers 24 doctoral, 66 master's, and 79 bachelor's degree programs through nine colle ...
, described this transformation in 2005 as "the most significant banking story of the late 20th century."
In 2012, journalist
Matt Taibbi
Matthew Colin Taibbi (; born March 2, 1970) is an American author, journalist, and podcaster. He has reported on finance, media, politics, and sports. A former contributing editor for ''Rolling Stone'', he is an author of several books, co-host o ...
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.
Early life
McColl was born in
Bennettsville, South Carolina
Bennettsville is a city located in the U.S. state of South Carolina on the Great Pee Dee River. As the county seat of Marlboro County, Bennettsville is noted for its historic homes and buildings from the 19th and early 20th centuries—including ...
,
to Hugh Leon McColl (1905–1994), a cotton farmer and banker
and Frances Pratt Carroll McColl (1906–1987), an artist.
He is of Scottish Presbyterian descent and had a sister and two brothers. Their paternal great-grandfather, Duncan Donald McColl (1842–1911) was an attorney who had developed the first railroad (the ''
South Carolina Pacific Railway The South Carolina Pacific Railway was a shortline railroad operation that existed in eastern South Carolina in the late 19th century and much of the 20th century.
The line was chartered in 1882 and completed in 1884. It ran 10.5 miles from Bennett ...
''
) and the first
cotton mills
A cotton mill is a building that houses spinning or weaving machinery for the production of yarn or cloth from cotton, an important product during the Industrial Revolution in the development of the factory system.
Although some were driven ...
in
Marlboro County
Marlboro County is a county located in the Pee Dee region on the northern border of the U.S. state of South Carolina. As of the 2020 census, its population was 26,667. Its county seat is Bennettsville. The Great Pee Dee River runs through ...
. He also founded the Bank of Marlboro, later headed by his son Hugh L. McColl, (1874–1931), followed by his grandson Hugh Leon McColl.
McColl's father liquidated the Bank of Marlboro in 1939 during the Great Depression.
He later bought a controlling interest in Marlboro Trust Co. As a youth, Hugh McColl went to work part-time at age 14 for the
trust company
A trust company is a corporation that acts as a fiduciary, trustee or agent of trusts and agencies. A professional trust company may be independently owned or owned by, for example, a bank or a law firm, and which specializes in being a trust ...
and his father's cotton company, McColl Cotton Mills. He learned to keep books, securing payments, learning
double-entry accounting
Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to ...
and driving across
North
North is one of the four compass points or cardinal directions. It is the opposite of south and is perpendicular to east and west. ''North'' is a noun, adjective, or adverb indicating direction or geography.
Etymology
The word ''north ...
and
South Carolina
)''Animis opibusque parati'' ( for, , Latin, Prepared in mind and resources, links=no)
, anthem = " Carolina";" South Carolina On My Mind"
, Former = Province of South Carolina
, seat = Columbia
, LargestCity = Charleston
, LargestMetro = ...
to make deposits.
McColl was elected student council president at Bennettsville High School, and class president in his senior year (1953). He was voted Best All-Round Boy in his senior class.
His yearbook quotation read: "He who is talented in leadership holds the world's dream in his grip."
After graduating from the
University of North Carolina at Chapel Hill
A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United States ...
, McColl joined the
United States Marine Corps
The United States Marine Corps (USMC), also referred to as the United States Marines, is the maritime land force service branch of the United States Armed Forces responsible for conducting expeditionary and amphibious operations through combi ...
and served a two-year tour of duty. Honorably discharged, he returned to North Carolina. According to McColl, his father pushed him into banking, saying that he "didn't have the brains for farming."
McColl married after college. He declined an offer from his father-in-law, John McKee Spratt (1907–1973), a banker, attorney, and judge,
to work at the Bank of Fort Mill, a small family-owned bank.
McColl accepted his father's arranging an introduction to officers at another bank. Young McColl went to work as a management trainee for American Commercial Bank in
Charlotte, North Carolina
Charlotte ( ) is the most populous city in the U.S. state of North Carolina. Located in the Piedmont region, it is the county seat of Mecklenburg County. The population was 874,579 at the 2020 census, making Charlotte the 16th-most populo ...
.
Career
NCNB and Nationsbank
In 1960, a year after McColl joined American Commercial Bank, the bank merged with Greensboro's Security National Bank, becoming
North Carolina National Bank North Carolina National Bank (NCNB) was a bank based in Charlotte, North Carolina, prior to 1960 called American Commercial Bank. It was one of the top banking institutions. From 1974 to 1983, the bank was run by Chairman and Chief Executive Office ...
.
Vigorously competitive, McColl deployed a methodical,
military
A military, also known collectively as armed forces, is a heavily armed, highly organized force primarily intended for warfare. It is typically authorized and maintained by a sovereign state, with its members identifiable by their distinct ...
approach to transforming the small regional bank, via incremental acquisitions and mergers, into
NationsBank
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through mul ...
and ultimately
Bank of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...
.
McColl became President of NCNB in 1974 at age 39.
In 1982, the bank made its first major out-of-state purchase—First National Bank of Lake City, Florida. This was the first in a wave of mergers and acquisitions during the 1980s. This was initially a defensive measure intended to make NCNB and other major Southern banks too rich to be taken over by New York money center banks. Most of those were orchestrated by McColl, who became CEO in 1983.
NCNB made national headlines with its purchase of the failed
First Republic Bank Corporation
First Republic Bank Corporation was an American bank based in Texas. Founded as the Guaranty Bank and Trust Company in 1920, in 1922 it assumed the name Republic National Bank of Dallas. Afterwards the bank acquired several banks and invested i ...
of
Dallas
Dallas () is the List of municipalities in Texas, third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the List of metropolitan statistical areas, fourth-largest metropolitan area in the United States at 7.5 ...
,
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...
from the
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cr ...
(1988). Over the next few years, it acquired more than 200 thrifts and community banks, many through the
Resolution Trust Corporation
The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets ...
program (1989 to 1992). In 1991, NCNB bought C&S/Sovran of
Atlanta
Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...
and
Norfolk, Virginia
Norfolk ( ) is an independent city in the Commonwealth of Virginia in the United States. Incorporated in 1705, it had a population of 238,005 at the 2020 census, making it the third-most populous city in Virginia after neighboring Virginia Be ...
, which was the result of a merger a year earlier between
Citizens & Southern National Bank Citizens and Southern National Bank (C&S) began as a Georgia institution that expanded into South Carolina, Florida and into other states via mergers. Headquartered in Atlanta, Georgia; it was the largest bank in the Southeast for much of the 20th c ...
of Atlanta and
Sovran Bank
Sovran Bank was a US-based regional bank that operated in Virginia between 1983 and 1990, and was the leading subsidiary of Sovran Financial Corporation. It was itself a product of a merger between ''First & Merchants Bank'' of Richmond and ''Vir ...
of Norfolk.
The merged bank changed its name to
NationsBank
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through mul ...
.
After the NationsBank merger, the bank acquired Maryland National Corporation (1992),
Chicago Research and Trading Group The Chicago Research and Trading Group was a futures and options trading firm. It was founded in 1977, by Joe Ritchie and was bought out by NationsBank
NationsBank was one of the largest banking corporations in the United States, based in Cha ...
(1993), BankSouth (1995),
St. Louis
St. Louis () is the second-largest city in Missouri, United States. It sits near the confluence of the Mississippi and the Missouri Rivers. In 2020, the city proper had a population of 301,578, while the bi-state metropolitan area, which e ...
-based
Boatmen's Bancshares
Boatmen's Bancshares Inc. was one of the 30 largest bank holding company, bank holding companies in the United States when it was acquired by NationsBank in 1996. Until its acquisition, Boatmen's traded on NASDAQ with the ticker BOAT.
The company, ...
(1996),
Jacksonville, Florida
Jacksonville is a city located on the Atlantic coast of northeast Florida, the most populous city proper in the state and is the List of United States cities by area, largest city by area in the contiguous United States as of 2020. It is the co ...
based
Barnett Bank
Barnett Bank was an American bank based in Florida. Founded in 1877, it eventually became the largest commercial bank in Florida with over 600 offices and $41.2 billion in deposits. Barnett was purchased by NationsBank in 1997.Ginzl, David: "T ...
(1997) and
Montgomery Securities
Montgomery Securities was an investment bank based in San Francisco, California, that specialized in high technology and health care sectors. The firm was founded in 1978 by Thom Weisel.
The bank was acquired by NationsBank Corporation on Jun ...
(1997).
Bank of America
In April 1998, under McColl's direction, NationsBank bought
San Francisco
San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...
-based BankAmerica. Although NationsBank was the nominal survivor and the merged bank was (and still is) headquartered in Charlotte, the merged company took the better-known name of
Bank of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...
.
Among other later acquisitions, Bank of America in 2004 acquired
FleetBoston Financial
FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America.
Histor ...
, thus ultimately holding the country's oldest bank charter (1784).
Strategically, McColl blunted opposition to the bank mergers and acquisitions by pledging in advance billion in loans for low-income neighborhoods, particularly with the creation of NationsBank and Bank of America.
Effect of McColl's merger strategy on financial crisis of 2007–2008
During the
financial crisis of 2007-2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...
, after McColl's retirement, Bank of America was dubbed "too big to fail" and received $45 billion in federal government funds.
In a 2012 article for
Rolling Stone
''Rolling Stone'' is an American monthly magazine that focuses on music, politics, and popular culture. It was founded in San Francisco, California, in 1967 by Jann Wenner, and the music critic Ralph J. Gleason. It was first known for its ...
titled ''Bank of America: Too Crooked to Fail,'' author
Matt Taibbi
Matthew Colin Taibbi (; born March 2, 1970) is an American author, journalist, and podcaster. He has reported on finance, media, politics, and sports. A former contributing editor for ''Rolling Stone'', he is an author of several books, co-host o ...
attributed factors at Bank of America leading up to the
financial crisis of 2007–2008
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...
directly to McColl's creation of a coast to coast bank,
saying the "concept of an overmassive, acquiring-everything-in-sight, bicoastal megabank was hatched" in a "terminal inferiority complex"
and described McColl (along with Ed Crutchfield of then
First Union
First Union Corporation was a bank holding company that provided commercial and retail banking services in eleven states in the eastern U.S. First Union also provided various other financial services, including mortgage banking, credit card, inv ...
) as having launched "a cartoonish arms race of bank acquisitions that would ultimately turn the American business world upside down."
Later work
After handing off day-to-day bank operations in 1999
and fully retiring from Bank of America in 2001,
McColl partnered with other Charlotte banking executives to form
McColl Partners
McColl Partners, LLC is an investment bank that provides services to middle-market companies and financial institutions. McColl Partners advises clients in three primary areas: Mergers and Acquisitions (M&A), Private Capital Raises, and Strateg ...
, an
investment banking firm which advises mid-sized companies on mergers and acquisitions
with offices in Charlotte and Dallas,
co-founded Falfurrias Capital Partners in 2006, a Charlotte-based
private equity firm
A private equity firm is an investment management company that provides financial backing and makes investments in the private equity of startup or operating companies through a variety of loosely affiliated investment strategies including lev ...
, founded McColl Garella (2002–2006) an investment banking company serving firms owned by women,
opened Charlotte-based McColl Fine Art in 2003,
and partnered to create New York-based MME Fine Art in 2005.
McColl is chairman of MBL Advisors Holdings, LLC (McColl Brother Lockwood), a Charlotte-based company with his son-in-law, Luther Lockwood, as managing principal and providing wealth transfer planning, business succession and executive benefits services to business owners and public company executives. In 2009, McColl Partners joined an international network of investment banks called Clairfield Partners, which collaborates on international deals.
McColl has served on the board of directors of
Sykes Enterprises
Sykes Enterprises, Inc., stylized as SYKES, is an American multinational business process outsourcing provider headquartered in Tampa, Florida. The company provides business process outsourcing (BPO) services, IT consulting, and IT-enabled servic ...
Inc.,
Canal Industries;
Atrium Health
Atrium Health, formerly Carolinas HealthCare System, is a hospital network with more than 70,000 employees and part of Advocate Aurora Health. It operates 40 hospitals, 7 freestanding emergency departments, over 30 urgent care centers, and mor ...
, formerly Carolinas HealthCare System; Charlotte Center City Partners; Charlotte Latin School from 1977–1982,
Cousins Properties
Cousins Properties Incorporated is a publicly traded real estate investment trust (REIT) that invests in office buildings in Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina. The company has developed notable prope ...
, Inc.; Faison Associates; Foundation for the Carolinas; General Parts, Inc.; NuTech Solutions Inc.;
Harris Teeter
Harris Teeter Supermarkets, Inc., also known as Harris Teeter Neighborhood Food & Pharmacy, is an American supermarket chain based in Matthews, North Carolina, a suburb of Charlotte. , the chain operates 261 stores in seven South Atlantic states ...
; and
Sonoco
Founded in 1899, Sonoco Products Company () is a United States-based international provider of diversified consumer packaging, industrial products, protective packaging, and packaging supply chain services and the world's largest producer of co ...
Products Company.
Philanthropy, civic involvement
McColl has supported a broad range of academic, civic and arts causes for Charlotte, the state of North Carolina and the Southeast — strongly encouraging Charlotte's urban redevelopment (enabled by Bank of America's revitalization of Fourth Ward and building of Gateway Village in Third Ward),
playing a key role in Charlotte's attracting the
Carolina Panthers
The Carolina Panthers are a professional American football team based in Charlotte, North Carolina. The Panthers compete in the National Football League (NFL), as a member club of the league's National Football Conference (NFC) South division. ...
National Football League
The National Football League (NFL) is a professional American football league that consists of 32 teams, divided equally between the American Football Conference (AFC) and the National Football Conference (NFC). The NFL is one of the ...
and the
Charlotte Hornets National Basketball Association
The National Basketball Association (NBA) is a professional basketball league in North America. The league is composed of 30 teams (29 in the United States and 1 in Canada) and is one of the major professional sports leagues in the United S ...
franchises,
supporting
Habitat for Humanity,
chairing The Forum for Corporate Responsibility (2003),
financing inner-city and minority-owned businesses,
encouraging light and high-speed rail, and supporting civil rights
and gay rights.
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 has
mentor
Mentorship is the influence, guidance, or direction given by a mentor. A mentor is someone who teaches or gives help and advice to a less experienced and often younger person. In an organizational setting, a mentor influences the personal and p ...
ed students of the McColl Business School at
Queens University of Charlotte
The Queens University of Charlotte is a private university in Charlotte, North Carolina. It has approximately 2,300 undergraduate and graduate students through the College of Arts and Sciences, the McColl School of Business, the Wayland H. Cato, ...
where he served on the Board of Trustees for 19 years (1991–2005).
McColl gave the initial for Charlotte's Teaching Fellows Institute, and McColl's daughter, Jane McColl Lockwood, is president of Charlotte-based McColl Foundation.
Many of McColl's philanthropic contributions have focused on his family. He endowed the Charlotte Children's Theatre which includes the
McColl family Theater,
funded the
McColl Center for Visual Art
McColl Center (formerly McColl Center for Art + Innovation) is an artist residency and contemporary art space located at 721 North Tryon Street in Charlotte, North Carolina.[Norfolk Academy
Norfolk Academy (NA) is an independent co-educational day school in Norfolk, Virginia. Chartered in 1728, it is the oldest private school in Virginia and the eighth oldest school in the United States. In 1966, Norfolk Academy merged with Country D ...]
,
Norfolk, Virginia
Norfolk ( ) is an independent city in the Commonwealth of Virginia in the United States. Incorporated in 1705, it had a population of 238,005 at the 2020 census, making it the third-most populous city in Virginia after neighboring Virginia Be ...
in honor of first cousin Edith Pratt Breeden (Patty) Masterson (1922–1997, attorney, teacher),
and endowed a professorship at the University of North Carolina at Chapel Hill School of Information and Library Science in honor of his mother Frances Pratt Carroll McColl and sister Frances Carroll McColl Covington (1932–1990).
In 1995 Bank of America bought a burned out church on North Tryon Street with the express purpose of converting it into an artist's residency. With McColl's support, and working with FMK Architects and Charlotte's Arts & Science Council, the structure was completely refurbished and eventually became the
McColl Center for Art + Innovation
McColl Center (formerly McColl Center for Art + Innovation) is an artist residency and contemporary art space located at 721 North Tryon Street in Charlotte, North Carolina.[Bennettsville, South Carolina
Bennettsville is a city located in the U.S. state of South Carolina on the Great Pee Dee River. As the county seat of Marlboro County, Bennettsville is noted for its historic homes and buildings from the 19th and early 20th centuries—including ...]
and then donated it to Marlboro County.
It became a new home for the Marlboro County Chamber of Commerce and The South Carolina Cotton Trail.
In 1998 and 2004, Jane Spratt McColl, with Hugh McColl, donated on the
Catawba River
The Catawba River originates in Western North Carolina and flows into South Carolina, where it later becomes known as the Wateree River. The river is approximately 220 miles (350 km) long. It rises in the Appalachian Mountains and drains into ...
in
York County, South Carolina
York County is a county in the U.S. state of South Carolina. As of the 2020 census, the population was 282,090, making it the seventh most populous county in the state. Its county seat is the city of York, and its largest city is Rock Hill. The ...
near
Rock Hill, South Carolina
Rock Hill is the largest city in York County, South Carolina and the fifth-largest city in the state. It is also the fourth-largest city of the Charlotte metropolitan area, behind Charlotte, Concord, and Gastonia (all located in North Carolina, ...
for an environmental museum,
possibly to be named the Museum of Life and the Environment, with building design by architect
William McDonough
William Andrews McDonough is an American architect, designer, and author. McDonough is founding principal of William McDonough + Partners, co-founder of McDonough MBDC, and co-author of '' Cradle to Cradle: Remaking the Way We Make Things'' ...
.
Rick Hendrick pardon
Rick Hendrick
Joseph Riddick "Rick" Hendrick III (born July 12, 1949), nicknamed "Mr. H", is an American businessman. He is best known as the owner of the NASCAR team Hendrick Motorsports. He is also a co-owner of JR Motorsports and founder of the Hendrick Au ...
had started The Hendrick Automotive Group in 1976 as a single
Chevrolet
Chevrolet ( ), colloquially referred to as Chevy and formally the Chevrolet Motor Division of General Motors Company, is an American automobile division of the American manufacturer General Motors (GM). Louis Chevrolet (1878–1941) and ous ...
dealership in
Bennettsville, South Carolina
Bennettsville is a city located in the U.S. state of South Carolina on the Great Pee Dee River. As the county seat of Marlboro County, Bennettsville is noted for its historic homes and buildings from the 19th and early 20th centuries—including ...
(McColl's home town), and sat on the Board of Directors during McColl's tenure as chairman of NationsBank, which in turn became Bank of America with McColl as chairman and CEO. Hendrick later pleaded guilty to mail fraud
and admitted to giving hundreds of thousands of dollars, automobiles, and houses to
American Honda Motor Company
The American Honda Motor Company, Inc. (sometimes abbreviated as AHM) is the North American subsidiary of the Honda Motor Company. It was founded in 1959. The company combines product sales, service and coordinating functions of Honda in North ...
executives — eventually requesting a pardon from President
Bill Clinton
William Jefferson Clinton ( né Blythe III; born August 19, 1946) is an American politician who served as the 42nd president of the United States from 1993 to 2001. He previously served as governor of Arkansas from 1979 to 1981 and agai ...
. McColl wrote to Clinton recommending a pardon for Hendrick and subsequently announced on December 7, 2000, Bank of America Foundation would donate $500,000 to the Clinton Foundation. On December 21, 2000, Clinton granted a pardon to Hendrick. McColl denied having a role in the bank foundation's contribution to the Clinton library, saying the foundation had also donated $500,000 to the presidential library of
George H. W. Bush and $225,000 to the library of
Ronald Reagan.
Personal life
McColl supported Bill Clinton for President, at one time voted for
George W. Bush
George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd president of the United States from 2001 to 2009. A member of the Republican Party, Bush family, and son of the 41st president George H. W. Bush, he ...
, and supported
Barack Obama
Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, Obama was the first African-American president of the ...
for President.
Speaking of his political viewpoints, McColl said in 2000,
Two books have been written about McColl:
:*''McColl: The Man with America's Money'' (1999) by
Ross Yockey
Ross Yockey (1943 – April 13, 2008) was a writer, producer, author, and television journalist. He authored 21 books, most notably best selling business book ''McColl, the Man with America's Money'', a biography about banker Hugh McColl. Yockey h ...
:*''The Story of NationsBank: Changing the Face of American Banking'' (2001) by Howard E. Jr. Covington and
L. William Seidman
Lewis William Seidman (April 29, 1921 – May 13, 2009) was an American economist, financial commentator, and former head of the U.S. Federal Deposit Insurance Corporation, best known for his role in helping work to correct the Savings and Loan ...
, (former head of the FDIC).
A 2008 book, ''Dearest Hugh:The Courtship Letters of Gabrielle Drake and Hugh Mccoll, 1900–1901'' edited by Suzanne Cameron Linder Hurley, recounts via their letters the courtship of his grandparents, D.D.McColl and Gabrielle Palmer Drake McColl (1882–1964).
Suzanne Hurley later wrote a book detailing the journey of the McColl Clan's journey from Scotland to Marlboro County. This book took ten years to create.
The library the
University of North Carolina at Chapel Hill
A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United States ...
's South Historical Collection maintains a collection of approximately 8,600 McColl family papers.
The South Caroliniana Library at the
University of South Carolina maintains the Duncan Donald McColl Papers.
On Oct. 3, 1959,
McColl married Jane Bratton Spratt McColl of
York, South Carolina
York is a city in and county seat of York County, South Carolina, United States. The population was approximately 6,985 at the 2000 census and up to 7,736 at the 2010 census. York is located approximately southwest of Charlotte, North Caroli ...
— daughter of a banker
and sister of former Congressman
John Spratt (D-SC). They have three children, Hugh Leon McColl IV (1960- ), John Spratt McColl (1963- ), and Jane Bratton McColl Lockwood (1967- )
and eight grandchildren.
McColl is member of
Augusta National Golf Club
Augusta National Golf Club, sometimes referred to as Augusta or the National, is a golf club in Augusta, Georgia, United States. Unlike most private clubs which operate as non-profits, Augusta National is a for-profit corporation, and it does n ...
.
In 2005 McColl, an avid
quail
Quail is a collective name for several genera of mid-sized birds generally placed in the order Galliformes. The collective noun for a group of quail is a flock, covey, or bevy.
Old World quail are placed in the family Phasianidae, and New ...
hunter, leased of the Kenedy Ranch, a
Texas Longhorn
The Texas Longhorn is an American breed of beef cattle, characterized by its long horns, which can span more than from tip to tip. It derives from cattle brought from the Iberian Peninsula to the Americas by Spanish conquistadores from the t ...
-cattle ranch in the
Falfurrias ranch area
of Kenedy County, Texas.
In 2010,
UNC-TV
The University of North Carolina Center for Public Media, branded on-air as PBS North Carolina or commonly PBS NC, is a public television network serving the state of North Carolina. It is operated by the University of North Carolina system, whi ...
conducted a series of interviews with McColl, titled ''Biographical Conversations with Hugh Leon McColl Jr.'', to air in three segments.
Awards and honors
McColl entered the South Carolina Business Hall of Fame in 1990,
in 1997 he was voted Tarheel of the Year,
in 2005 he entered the North Carolina Business Hall of Fame, and in 2007, entered the
Junior Achievement
JA (Junior Achievement) Worldwide is a global non-profit youth organization founded in 1919 by Horace A. Moses, Theodore Vail, and Winthrop M. Crane. JA works with local businesses, schools, and organizations to deliver experiential learning ...
U.S. Business Hall of Fame. McColl was named "Family Champion" by ''
Working Mother
''Working Mother'' was a magazine for working mothers launched in 1979 by Founding Publisher Milton Lieberman, who was succeeded by Carol Evans . The founding editor of the magazine was Vivian Cadden, who retired as editor in 1990. Subsequent edi ...
'' magazine (1993), he earned the Pioneer Award from the Organization for a New Equality (1996) and won the Applause Award from Women's Business Enterprise National Council (2001).
In 2005, McColl won the
Echo Foundation ''Award Against Indifference'',
founded in 1997 to carry the message of
Nobel Peace Prize
The Nobel Peace Prize is one of the five Nobel Prizes established by the will of Swedish industrialist, inventor and armaments (military weapons and equipment) manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiolog ...
winner
Elie Wiesel — a call to action for human dignity, justice and moral courage.
In 2008, McColl was named South Texan of the Year,
and in 2009, McColl received the North Carolina Award for public service.
See also
*
Bank of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank ...
*
Banking in the United States
*
Bennettsville, South Carolina
Bennettsville is a city located in the U.S. state of South Carolina on the Great Pee Dee River. As the county seat of Marlboro County, Bennettsville is noted for its historic homes and buildings from the 19th and early 20th centuries—including ...
*
NationsBank
NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. The company named NationsBank was formed through the merger of several other banks in 1991, and prior to that had been through mul ...
References
External links
McColl Partners investment bankersFalfurrias Capital PartnersMME Fine ArtMcColl Center for Visual Arts, Charlotte, NC
{{DEFAULTSORT:McColl, Hugh
1935 births
American bankers
American chief executives of financial services companies
Bank of America executives
Living people
University of North Carolina at Chapel Hill alumni
Queens University of Charlotte
People from Bennettsville, South Carolina
United States Marines