Latest news with #HughMcColl
Business Journals
01-08-2025
- General
- Business Journals
'Look after the people you work with'
Hugh McColl talks with Dr. Will Sparks on stage for the Legacy of Leadership event at Queens University on Sept. 17, 2024.
Axios
23-06-2025
- Business
- Axios
The meaning behind Uptown Charlotte's new park
Uptown gained a new landmark on Wednesday as the final construction fences came down around the recently completed McColl Park. Why it matters: The transformed park replaces a long-neglected plaza and defunct foundation with an art and events space at Trade and Tryon, one of Charlotte's most prominent corners. Just hours after the park opened, people were already gathering on the benches with friends, making calls beside the fountain and admiring the new art. The big picture: The park honors Hugh McColl, the former Bank of America CEO and philanthropist credited with shaping the city surrounding the park, from building Bank of America Corporate Center to helping bring the symphony to Charlotte. McColl turned 90 this month. Kieth Cockrell, president of Bank of America Charlotte, says the park committee wanted to "give him his flowers while he's living." Catch up quick: Before the revamp, the park — previously known as Polk Park — was in rough shape. Charlotte Center City Partners and the McColl Park Committee, a group of civic leaders, raised about $10 million for the makeover and about $3 million for its long-term maintenance. At the center of the 0.3-acre park is "The Nest," a sculpture of crisscrossed logs, suspended 56 feet in the air like a chandelier. Architect Walter Hood says his goal was to change how people view the space around them. "Before this piece was here, you saw the skyline in a completely different way ... you didn't stand here and look up," he said. Hood is originally from Charlotte and remembers taking the bus through Trade and Tryon, near McColl Park, as a child. Beneath the nest, a water feature's reflection makes the small pocket park feel larger. The water can be drained for events, freeing up room for hundreds of seats. Programming could range from yoga classes to farmers' markets. A jet mode with LED lights can turn the park into a show. "It's two parks for the price of one," says Michael Smith, CEO of Charlotte Center City Partners. "Wait' till you see it at night." Zoom out: McColl Park is just one of many changes coming to Uptown. The city recently raised the municipal service area tax rate in some of the Uptown district for Charlotte Center City Partners' "Center City Vibrancy" effort. The economic development organization will use the funds — combined with private sector contributions — to grow the ambassador program by 62%, launch a marketing campaign for Uptown and plan more events. They're also asking building owners to help step up maintenance on their corners. "We think if we do that, your experience walking these 11 blocks is going to be raised," Smith says. "Hopefully people are feeling it already."
Forbes
18-06-2025
- Business
- Forbes
What Rules Of Combat Can Teach Us About Great Leadership
Hugh McColl, CEO of Bank of America (Photo by Porter Gifford / Liaison Agency) Hugh L. McColl, Jr. is 90 years old today. He is the retired chairman and CEO of Bank of America. An ex-marine officer during the late fifties, his business leadership style was swashbuckling, colorful, and highly focused. Wall Street analysts characterized him as a no-holds-barred tactical genius who, as its thirty-nine-year-old president, led the bank with 172 offices and 28,000 employees (called NCNB) to one called Bank of America with over 5,000 offices and almost 200,000 employees when he retired in 2001. In the late '70s, I had the privilege of being one of his "lieutenants," as he referred to his bank officers. Some said he never really left the Marine Corps since military jargon littered his everyday language. He was rarely wrong; he was never in doubt. I once viewed Hugh as a brilliant but power-driven autocratic. I now believe he was way ahead of his time in reflecting "rules of combat" in the manner he lead a high growth bank during a dramatically changing financial services arena. Not only was the industry intensely competitive for share of market, banking regulations were being rewritten practically everyday. Six of the rules (authored by Logan Graves) offer special insights for effective leadership relevant for today's competitive world. Clearing mine field "Only dead fish swim with the current," goes the adage. While fish and leaders obviously "swim" in all directions, the river's path does not govern their choice. Great leaders keep an up antenna for influences that might entice them to abandon what they know to be right and effective. It is not that they are infatuated with unnecessary toil; instead, they believe that enduring endeavors are best constructed on substance. McColl inspired me by modeling a perpetual single-mindedness on what mattered, not on what was fashionable. He was as dogged as he was driven. Francis Marion Great leaders are fans of pragmatics, not parade. Their 'function over form' orientation enables them to race past preoccupations with ceremony to outperform those mired in convention. They focus on innovation, not conformity. Francis "Swamp Fox" Marion was the revolutionary military leader whose combat unit frequently embarrassed the British Redcoats through his guerrilla tactics. The British soldiers fought in red uniforms with orderly precision and methodical execution; Marion fought in camouflage from trees and bushes. Creatively engineered tactics enabled Marion's tiny unit to repeatedly defeat a well-supplied enemy many times their size. Hugh taught me that cunning and ingenuity will always trump canned, "cute," as McColl labeled trivial form, and procedural. "Stop thinking like a banker," he would advise. Hand grenade Great leaders are prepared. General George Patton soundly defeated German General Erwin Rommel in the Battle of the Bulge during World War II. When asked about his secret of success, Patton pronounced, "I read his damn book!" Great leaders know their courage is strengthened by preparation. While they abhor "paralysis from analysis," they know their choices are too critical to rely on a "shoot from the hip" approach. While McColl sometimes appeared impetuous, those close to him knew he was rarely unprepared. He often visited my leadership classes and participated as just another student, never as the CEO. He knew leaders are more powerful role models when they learn than when they teach. He never stopped being a student. Soldier throwing a hand grenade, Great leaders are not fearless beings who stoically snub their noses at terror. They are real-life human beings who face danger standing on legs of rubber with their stomachs in their throats. But great leaders lean into danger out of a strong sense of duty and responsibility. Leaders act like pros because they feel accountable to those they serve. They embrace challenges as occasions to test their limits and reaffirm their principles. Hugh always enthusiastically pointed to the bright opportunity on the other side of the risk. Ironically, he kept a hand grenade on top of his desk to symbolize both risk and readiness. Great leaders are intensely competitive—with their own internal standards of excellence. "Beating the competition" is not their driver; rather, it is "delivering the goods" better than their adversary. Leaders view their competitors as a part of the context of the contest, not as its content. While never oblivious to where they are in their relationship with competitors, their energy is fueled by an intent to excel, not by a malevolent motivation to rout. They focus on their vision and goals rather than on their opponent. McColl modeled the pursuit of one's own standards of excellence, not scoreboards crafted by others. "I admit to being an elitist," he often said. "We only want the very best." Great leaders are willing to buck the tide. Too many leaders today have been instructed to act like a leader, but informed to think like a lawyer. Some have learned to surrender to unrealistic demands when their consciences scream for acting on principle. Such timidity has bred caution when in the presence of controversy. Too many leaders would rather lose sleep than lose face. The combat zone of today's world of enterprise is fundamentally about obvious trust—customers, employees, and community. Hugh had a major influence on the community and industry because he was trusted always to be authentic while remaining true to his principles. Bank of America is today the 2nd largest bank in the U.S., with almost 3700 branches. The McColl Building at the University of North Carolina at Chapel Hill houses the Kenan-Flagler School of Business. The McColl School of Business at Queens University in Charlotte is named for him. McColl was inducted into the South Carolina Business Hall of Fame in 1990 and the North Carolina Business Hall of Fame in 2005. A midtown Charlotte park is named in his honor. Happy birthday, Hugh!
Business Journals
17-06-2025
- Business
- Business Journals
Hugh McColl turns 90 and McColl Park opening: 'If you let yourself do nothing, you'll die'
Never miss an episode of The Voice of Business in the Charlotte Region. Subscribe now on Apple Podcasts, Spotify or wherever you get your podcasts. As Hugh McColl approaches his 90th birthday, he shows no signs of slowing down. 'As long as you're busy, you don't have a lot of time for dying,' said McColl, the co-founder and chairman emeritus of Falfurrias Management Partners and former chairman and CEO of Bank of America. In this special episode of The Voice of Business in the Charlotte Region, a podcast miniseries brought to you by CLT Alliance and the CBJ, McColl sits down with Andrea Smith, strategic advisor for the Charlotte Regional Business Alliance, and Keith Cockrell, president of Bank of America Charlotte and head of Global Sports Sponsorships, for a wide-ranging interview. In the conversation, McColl discusses the grand opening of McColl Park, shares stories from early in his career, as well as the lessons and philosophies that continue to drive him to this day. expand Listen to this episode to learn more about: • How the Marine Corps became McColl's 'graduate school' in management • Why McDonald's inspired McColl's vision for banking expansion • What makes Charlotte unique — and the people shaping its legacy of community impact • Bringing an NFL team to Charlotte • Attracting and retaining young talent • McColl's secret to success • The impact of the Wake Forest University School of Medicine on the Queen City
