Hugh L. McColl Jr. is co-founder and chairman emeritus of Falfurrias Group. Previously, he served as chairman and CEO of Bank of America. During his tenure with the bank, it grew 50-fold, expanding its offerings of financial products and services across the United States to become an industry leader in retail, commercial, corporate and investment banking. In 2021, McColl, along with several partners, founded BrightHope Capital to invest in minority firms.
A champion of UNC Charlotte’s role in advancing the growth of the region, McColl continues to leave his mark on the University. He was an early backer of Charlotte 49ers football, and players in Jerry Richardson Stadium take to the McColl-Richardson Field, named in recognition of his financial support of the program. He also endowed a scholarship in history to support UNC Charlotte students in their academic pursuits. A counsel to Charlotte’s five chancellors, McColl was awarded an honorary doctorate in 1989 for his business and civic leadership on behalf of the University, city, state and nation. He previously served on the board from 1989-92.
A graduate of UNC Chapel Hill with a bachelor’s degree in business administration, McColl has a long-standing commitment to advancing education. At Chapel Hill, the McColl Building is home to the Kenan-Flagler School of Business. At Queens University of Charlotte, McColl served as a trustee for 19 years; its business school bears his name. Prior to college, McColl served in the U.S. Marine Corps for two years.
In 2021, McColl along with Lloyd Yates, former Duke Energy North Carolina president, and Malcomb Coley, Carolinas managing partner of EY, founded BrightHope Capital to advance minority firms; its initial investment was R.J. Leeper Construction Company.
McColl was appointed to the UNC Charlotte Board of Trustees in 2023 to a four-year term by the UNC Board of Governors.