The Mortgage Mole


Malone ranger

The mortgage industry bade farewell to PMS chairman John Malone last week who after over 50 years in the industry is finally retiring at the end of this month.

A lunch was held on Wednesday at Malone’s favourite haunt Langan’s Brasserie in Mayfair, and was the fourth of five retirement extravaganzas being held across the country.

Mole was lucky enough to bag an invite and the great and the good of the industry were in attendance at the event which had been organised by Deirdre McManus.

Malone was lauded by Nationwide senior manager for group intermediary sales James Chidgey for his passion for horse racing, which was unsurprising as Mole spied him receiving text messages from Ladbrokes all the way through the meal.

John Malone is retiring at the end of this month

Mortgageforce managing director Kevin Duffy also did a mortgage version of This Is Your Life, with readings from Malone’s fictional autobiography.

And Sesame Bankhall Group’s interim non-executive chairman John Cowan, a long time friend and colleague of Malone’s and was instrumental helping Malone setup PMS 17 years ago, also praised the Godfather of the industry. Although Cowan couldn’t resist having a dig at the number of leaving parties Malone was having.

“I’ve never known a guy with so many going away events – I’m plagiarising my own speeches!” he told the audience.

The big question everyone was asking though was whether this really was the last the market had seen of Malone.