Jones, age 57, will serve on the audit, remuneration, nomination, and group risk committees.
He joined Lloyds Bank plc in 1985 and retired from Lloyds Banking Group plc (“LBG”) at the end of 2020 most recently as managing director, intermediaries and specialist brands.
His primary role was leading the Halifax, BM Solutions and Scottish Widows Bank business development teams working with mortgage intermediaries across the UK. Jones chaired the LBG Housing Forum, the LBG intermediary conduct forum and was responsible in the UK for Birmingham Midshires, Scottish Widows Bank and Intelligent Finance. He was also responsible for LBG’s European retail bank operating in Germany and The Netherlands, a role that sees him continue into 2021 as chair of the supervisory board of Lloyds Bank GmbH following his appointment in March 2019.
Peter Brodnicki, CEO of MAB, said: “I am also delighted to welcome Mike to the Board. His leadership, vision, and strategic thinking at the UK’s leading lender has shaped the intermediary and lending markets that exist today, and his appointment reflects the huge ambition of this business.
Jones said: “It will be great to do something I know and love with a company and people that I am excited to be involved with. I know the way they think, they have great plans and believe I can bring some value.”
There are businesses that tell a good story and there are businesses that get things done. MAB is at the forefront of leading change and is definitely one of the latter, he added.
On the housing market through 2021, Jones agrees that this could be a year to match 2007 for its mortgage lending high given the momentum built up and in the pipeline.
“Activity levels have been high across the market following the first lockdown last spring and there are very high numbers of mortgages still to complete in 2021, not least brought about by the looming stamp duty exemption deadline,” he said, adding that vaccinations are now giving an increasingly clear exit route out of the pandemic.
“The Covid vaccination roadmap laid out by the government is building confidence and I think that there is a high probability that this will become an annual jab like the flu vaccine. If so, then I’m optimistic that Covid becomes much more manageable and contained. Let’s hope so, the interesting question then becomes how many will go back to their previous way of life? How many habits have been changed by our experiences of the last year? That’s the big unknown.”
