Ex-Bank of America execs land roles at company backed by Hugh McColl's firm

The Charlotte private equity firm co-founded by former Bank of America CEO Hugh McColl Jr. has taken a stake in a company that helps lenders check for tax-related risks in potential borrowers.

Falfurrias Capital Partners also said that two former Bank of America executives will take on roles at Boulder, Colo.-based Tax Guard. Chris Marshall, most recently chief financial officer at Capital Bank Financial, will serve as executive chairman, while Joe Price, a former Bank of America CFO, will join the board.

Founded in 2009 by CEO Hansen Rada, Tax Guard works with lenders who make loans to businesses for equipment and other purposes. It has developed systems that allow borrowers to identify potential tax problems before they make loans.

Falfurrias did not disclose terms of the investment, but it will have a majority stake, said Falfurrias co-founder Marc Oken, who is also joining the board. Tax Guard's management has also made an investment.

Marshall departed Capital Bank Financial last year after the bank completed its sale to Memphis, Tenn.-based First Horizon National.

Marshall has deep ties in the banking industry and can help Tax Guard bring on new clients, said Oken, a former Bank of America chief financial officer.

"He's well-connected with the CEOs of all these potential client companies we want to do business with," Oken said. "He'll lead the charge there."

Falfurrias has tapped its Bank of America connections for executives in the past. As part of an investment in Texas-based Marquis Software Solutions, it installed Susan Faulkner as CEO.

This story was originally published April 17, 2018 at 8:35 AM with the headline "Ex-Bank of America execs land roles at company backed by Hugh McColl's firm."