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| Inducted: |
2007 |
| Region: |
U.S. |
| Industry: |
Banking
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McColl started his banking career after getting a business degree at the University of North Carolina at Chapel Hill and serving in the U.S. Marine Corps. McColl took his father’s advice and joined Charlotte’s American Commercial Bank, a predecessor of North Carolina National Bank (NCNB), in 1959.
McColl’s energy, coupled with his ambition and talent for collaboration, fueled the mergers and acquisitions that transformed NCNB. Starting as CEO of that one-state bank in 1983, McColl built it into the Bank of America, the largest banking institution in the United States.
Under McColl’s leadership, Bank of America grew to $610 billion in assets, $352 billion in deposits, and $49 billion in shareholders' equity. McColl guided Bank of America to more than 50-fold growth, and expanded operations to 22 states and 38 foreign countries before he retired in 2001.
McColl now seeks the ultimate freedom that he believes will come with “having nothing to do” except what he chooses.
When asked about his greatest accomplishment, McColl’s answer might surprise some: “I guess what I’d like to be remembered for is contributing to the building of this great city—Charlotte, North Carolina.” |
