Thursday October 11, 2001: 4:18pm ONLINE BREAKING NEWS |
Hugh McColl To Speak At CED's InfoTech 2001 Former CEO of Bank of America To Address This Years' Attendees at Technology Event By Elliott West, News Editor, Triangle TechJournal The Triangle TechJournal: October 11, 2001 www.triangletechjournal.com CHAPEL HILL -- According to the Council for Entrepreneurial Development, famed banker and business executive Hugh McColl, Jr. will be one of the speakers at this year's InfoTech 2001 conference. The conference is held on October 30 and 31st at the Friday Center on the UNC campus, just down the road from his namesake McColl Building at the UNC Kenan-Flagler School of Business. McColl is scheduled to make the introductory remarks and introduce the keynote speaker at around 8:00am on October 31st. McColl made his mark on North Carolina -- and the nation -- through his leadership at Bank of America, now one of the country's largest banks. After starting as CEO at the former Nationsbank in 1983, McColl grew the bank from a small North Carolina bank into the nationwide "megabank" that is now Bank of America. The growth came through a series of over 100 mergers and acquisitions that marked McColl's aggressiveness and desire for undeterred growth in size. Under McColl's tenure as head of Bank of America, the bank went from around $12 billion in assets to $610 billion in assets. McColl retired as the CEO of the bank in April of this year, although he remains an active stockholder and influence on the company. In Charlotte, McColl's influence was key in making the city a regional powerhouse of industrial growth and business. The Bank of America building in downtown Charlotte has been described as a symbol of the city's prosperity and the banks' presence there has firmly established Charlotte as a major financial center. McColl Starts New Company McColl announced on October 8th that his new company, McColl Partners LLC (www.mccollpartners.com) is up and running. The investment banking firm will offer merger and acquisition services for their target clients -- companies in the financial services, healthcare, technology and manufacturing sectors with annual revenues of $250 million or less. After retiring from Bank of America he never had to work again -- he is a millionaire many times over from his ownership of Bank of America stock. He did draw some criticism for enormous CEO compensation packages that he received his last few years as head of the bank, but it seems obvious that McColl enjoys playing the game. Although his new firm has only 14 employees and is a far cry from running a leading bank, it's evident that it allows him to still feel the thrill of the hunt in the financial world. "I love it. It's fun. You get up in the morning and you've got to go make money," McColl recently told the Charlotte Observer about the new company. And where is McColl Partners located? Where else would they be but on the 51st floor of the Bank of America building in downtown Charlotte. McColl Starting Yet Another Firm Although not formally announced, McColl has told members of the press that he is starting up a second firm that could potentially invest in some of McColl Partners' clients. Although a separate business, the second firm would work closely with McColl Partners. Impressive List Of Speakers At InfoTech The show organizers (the CED, UNC, and TiE (The IndUS Entrepreneurs - Carolinas) have garnered an impressive array of speakers and presenters for this year's show. Guests from all over the country, including executives, journalists, venture capitalists, technologists, and others, are lined up to meet with attendees. Here is a list of speakers scheduled to attend: · Mike Brooks, partner, Venrock Associates · Sandeep Chennakeshu, chief technology officer, Ericsson Inc. · Reid Conrad, president and chief executive officer, Commerciality · Jim Davis, chief marketing officer, SAS · Bill Ford, general partner, General Atlantic Partners · Rajat Gupta, managing director, McKinsey & Company · Satish Gupta, vice-president e-Server xand IntelliStation, IBM · David Guzman, senior VP and CIO, Owens & Minor, Inc. · Rick Hegberg, CEO, NetOctave Corporation · Bill Helman, general partner, Greylock Partners · Kristina Johnson, dean, School of Engineering, Duke University · Barrett Joyner, CEO, FullSeven Technologies, Inc. · Hugh McColl, chairman, the McColl Group · Walt Mossberg, personal tech columnist, The Wall Street Journal · Raju Narisetti, editor, tech/media, The Wall Street Journal · Steve Nelson, partner, The Wakefield Group · Scott Neuville, CEO, iBiomatics · Ed Paradise, VP and general manager, mobile wireless, Cisco · Alex Salkever, technology editor, BusinessWeek.com · Sreenath Sreenivasan, journalism professor, Columbia University, · Michael Tiemann, chief technology officer, Red Hat · Jesko von Windheim, VP & GM, Cronos Integrated Microsys. · Beth Yaeckel, marketing strategist, IBM Software Group More information on the conference and speakers can be found at http://www.cednc.org/infotech/2001. TTJ |
Copyright 2001 by The TriangleTechJournal -- No part of this website may be copied, reprinted, or reused without express permission of The Triangle TechJournal. |
Thursday October 11, 2001: 4:18pm ONLINE BREAKING NEWS |
McColl Facts |
Hugh McColl started as CEO at NationsBank/Bank of America in 1983 and left as CEO in April of 2001. |
In 1886, Hugh McColl's great-grandfather organized the Bank of Marlboro. |
McColl is aggressive and knows what he wants. "Hugh is driven by competitiveness," a friend of McColl's told Fortune. "The most important thing to him is winning." |
McColl comes from a large banking family. Both his great-grandfather and his grandfather were bankers. His father was a banker. McColl's brothers are also bankers, he married a banker's daughter, and their children worked for banks. |
Under McColl's tenure as head of Bank of America, the bank went from around $12 billion in assets to $610 billion in assets. Through over 100 mergers, the bank has grown from a NC bank to one of the largest in the US. The bank has grown 50 fold to include over 142,000 workers in 21 states. |
Boss With A Boom |
Military Icon - McColl had a hand grenade on his desk. |
Hugh McColl recently retired as CEO of one of the largest US banks. |
Although McColl was in the Marine Corps for only two years, he integrated his military experience into his work at the bank. A hand grenade (minus explosives) sat on his desk and he often gave out crystal hand grenades as awards to key employees. As part of the ceremony for the dedication for the bank's new landmark building and headquarters in downtown Charlotte, soldiers rappelled down the side of the huge glass and steel structure. |
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