Hugh McColl
Hugh McColl
Hugh L. McColl Jr.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." 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...
across bottom business continued customer difficult economic efforts environment flows goals good meeting pleased progress strategic weak
We are pleased with our continued progress in meeting strategic goals and continue to see good customer flows across many business lines, ... It is clear, however, that the increasingly weak economic environment is making it difficult for our efforts to show up on the bottom line." ()
banking center financial full major products range
a full range of banking products in every major financial center around the globe." ()
degree despite effective efficient individual needs neither nor progress realizing resulting structure successes toward
To date, despite our many successes in individual businesses, we have not made the degree of progress we would like toward realizing that potential, ... We've assembled the right parts, but after years of additions, our resulting structure is neither as efficient nor as effective as it needs to be." ()