McColl Partners, the Charlotte investment bank founded by former Bank of America Corp. chairman Hugh McColl Jr., has been in discussions with Deloitte about a possible sale, a source familiar with the matter said.
The investment bank was expected to inform staff of the transaction this week, but it remained possible a deal might not materialize, the source said, declining to discuss terms.
Deloitte is one of the big four professional services firms, providing clients with audit, financial advisory, tax and consulting services.
McColl and co-founder Dave Vorhoff declined to comment. Deloitte spokeswoman Shelley Pfaendler said the firm doesnt comment on rumor or speculation.
McColl launched the eponymous firm in 2001 after retiring from Bank of America, which he built into a financial behemoth by aggressively buying up rivals in the 1980s and 1990s. Now 77, he also co-founded a Charlotte private equity firm called Falfurrias Capital Partners, among other ventures.
McColl Partners is part of a cadre of boutique investment banks in Charlotte that advise mid-sized companies on mergers and acquisitions. They help businesses value their companies and find buyers.
McColl Partners would not be the first local investment bank to sell itself. Edgeview Partners was acquired in 2007 by finance company CIT Group Inc., but partners bought the firm back in 2010 and became independent again.
According to a 2012 year in review on its web site, McColl Partners opened a Los Angeles office last year and increased its professional ranks by 10 percent.
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