May I clarify a few things? First, are you saying that any one of the columns (but only one) will have a value of << followed by text? So if these are the columns it might be:
B C D E F G H
Jane Mary <<Alice John Michael Alice
Ed Larry Steve <<Harry Ellen Harry
And do you want the text in column H or the text AND the leading <<? Lastly, just to confirm it really is always the first two characters?
If I'm making the correct assumptions about all of the above, it would be...
=if(right(b1,2)="<<",b1,if(right(c1,2)="<<",c1,if(right(d1,2)="<<",d1,if(right(e1,2)="<<",e1,if(right(f1,2)="<<",f1,"what the heck?")))))
if you want to have the contents if the << cell in column H *without* the <<, that will require a bit more, like so:
=if(right(b1,2)="<<",mid(b1,3,X),if(right(c1,2)="<<",mid(c1,3,X),if(right(d1,2)="<<",mic(d1,3,X),if(right(e1,2)="<<",mid(e1,3,x),if(right(f1,2)="<<",mid(f1,3,X),"what the heck?")))))
where X is the max length of the string you would have. So if it were names and the longest is "<<Kenneth" in B1 you could put mid(b1,3,9). I'm pretty sure you could put 100 for that number and not have problems, but that I'm not 100% sure about.
I'll check back to see if this worked for you or if you have any questions!