ABSTRACT
In 1982 Hugh McColl became president of North Carolina National Bank (NCNB). A year later, he added the titles and responsibilities of CEO and chairman. At the
time, NCNB was a successful regional bank with operations in North Carolina and Florida, $12 billion in assets, $8 billion in deposits, and a market capitalization of $700 million. Over the next 18 years, McColl would remake the bank into the global financial powerhouse known today as Bank of America. And, in so doing, he would help to transform the entire banking industry.
