Retired B of A Chief Forms Advisory Firm
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Retired Bank of America Corp. Chairman Hugh McColl, who built the first U.S. coast-to-coast bank through more than 100 mergers and acquisitions, said he has formed a mergers and acquisitions advisory firm.
McColl, 66, said McColl Partners will focus on middle-market companies. McColl teamed up with David Vorhoff, who was with Banc of America Securities’ health-care group, and Eric Andreozzi, formerly with Bowles Hollowell Conner/First Union Securities.
The two will be managing directors of the 14-member firm, which will advise companies in the financial services, health-care, technology and manufacturing industries, he said.
The firm will be based in Charlotte, N.C., home of Bank of America, and plans to expand to the West Coast and New York. It will specialize in corporate sales and divestitures, leveraged buyouts, fairness opinions, acquisition advisory and recapitalization, McColl said.
McColl engineered Bank of America’s growth from $12 billion in assets in 1983 to more than $800 billion when he retired in April.
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