John Malone steps down as non-exec chairman of Positive Lending

Malone (pictured) joined Positive in June last year. He retired from the mortgage industry in late 2013 having spent 17 years at Premier Mortgage Service (PMS), the firm he founded in 1996.

Since 2014 Malone has also acted as chairman of Front Events, which organises the Financial Services Expo.

Positive managing director Paul McGonigle said working with Malone was of “huge benefit” to the firm, particularly in the field of regulatory compliance.

Malone had joined Positive with a short-term commitment. During his time at the firm he helped Positive form relationships with networks, trade bodies, regulators, product providers and distributors.

He also opened doors for Positive through his network of contacts and advised the board at a strategic level, the company said.

The last year saw the implementation of the Mortgage Credit Directive, which brought second charge lending under the regulatory rules governing first charge mortgages, changing the market considerably.

McGonigle said: “As well as his financial services knowledge, John is extremely well connected and has kindly opened many doors for Positive.

“John has enabled us to forge relationships that will continue to support our business growth into the future.  John’s understanding of the market and his appreciation of regulatory compliance has helped us towards achieving our long term strategic goals.”

Malone said he was ‘pleased’ the was able to help guide Positive through the new regulatory landscape.

He said: “I have very much enjoyed my year on the board of Positive Lending. I have been impressed with the considered approach taken by Paul and his team to compliance, relationship building and the use of technology.  I wish Positive well for the future and I am sure they will continue to grow and prosper.”