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- “The simplest way to put it,” McColl said, “is that I walked away from the bank, and walked away mentally and physically.” He was tired of the job’s unrelenting claim on his time, on his life. Even with all the power that came with his job, it had never brought him true freedom. The past, however, could not be entirely out of mind.
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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.
McColl retired from Bank of America in 2001, but he continues to loom large in the minds of anyone with a curiosity about how the current bank industry came to be.
Aug 5, 2017 · But it was McColl who finally realized Giannini's dream of operating a bank that spanned the Atlantic and Pacific Oceans. To be clear, the Bank of America founded by Giannini makes up only...
Ken Lewis took charge in 2001 upon CEO Hugh McColl’s retirement, assuming leadership of the bank amalgamated from NationsBank and Bank of America. Lewis drove aggressive expansion beyond McColl’s foundational consolidation, vaulting the bank past its mega-bank peers in size as measured by deposits.
Sep 18, 2024 · As CEO of Bank of America and its predecessor companies from 1983 to 2001, McColl was a major player in consolidating the banking industry, and in a way that benefited Charlotte by keeping bank headquarters and good-paying finance jobs here.
Dec 25, 2017 · Hugh McColl wielded more influence than any banker in the country during the last quarter of the 20th century, turning a small North Carolina bank into Bank of America, a financial...
Dec 1, 2020 · McColl took satisfaction that Bank of America was strong enough to sustain an estimated hit of $200 billion. The Great Recession left its resources drained. Imposition of penalties and fees rose to the tens of billions, and regulators called a lot of the shots for a period of time.
