Hail, Columbus

Charting the financial future

As soon as John G. McCoy took over from his father in 1958 as head of the City National Bank and Trust Co. in Columbus, he asked the board of directors to spend 3% of each year's profit on research and development. The directors responded: "This is a bank. Why do you need research?" Explained McCoy: "I don't know. That's what I want to find out."

What McCoy, now 68, discovered has made his bank perhaps the most advanced financial institution in the U.S. The company, which has a 30-acre data processing center outside Columbus, has earned a...

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