Hugh McColl retired in 2001 as president and chief executive officer of Bank of America, the first nationwide, coast-to-coast bank and one of the largest banks in the country. McColl was born in Bennettsville, South Carolina and graduated from the University of North Carolina. After serving in the U.S. Marine Corps, McColl joined the Commercial Bank in 1959, and by the age of 48, he was elected chief operating officer. McColl's progressive management policies included flexible work schedules and other benefits to meet the family needs of employees. Under his leadership, NCNB spent two million dollars in education improvement programs across the Southeast. McColl was inducted into the South Carolina Business Hall of Fame in 1990.