John Malone joins packager Positive Lending

John-Malone-700.jpg

Bournemouth-based packager Positive Lending has appointed John Malone as non-executive chairman.

Malone, who is also chairman of Front Events, which organises the Financial Services Expo, left PMS at the end of 2013, 17 years after setting it up.

Malone says: “With the significant regulatory changes being mandatory from next March, it was very clear to me that Chris [Fairfax] and Paul [McGonigle] had already implemented these requirements into Positive Lending, which made my decision in working alongside them an easy one.

“To date I have been very impressed with their business and work ethic and I am looking forward to being part of their operation over the next few years.”

Positive Lending managing director Chris Fairfax says: “It is very difficult to not be in complete awe of somebody like John, who has achieved so much in his career. His experience and relationships with trade bodies, regulators, product providers and distributors make him perfectly placed to help us achieve our strategic goals for the future.”

Malone started his career in financial services in 1960 when he joined Martins Bank, followed by a two-year stint working for his father’s electrical business. He then held roles at Citibank and Cedar Holdings, running the latter’s Scottish operations.

In 1974 he joined FS Insurance, developing and running its mortgage proposition in Scotland before moving to TSB Scotland-owned Slater Hogg & Howison as financial services director in 1989.

In 1992 Malone became managing director of Mortgage Shops, under the Slater Hogg Mortgage and Financial Services banner. In 1996, he launched PMS as part of Scottish Amicable.