PMS extends John Malone contract into 2012
The UK’s largest mortgage club, PMS, has announced that executive chairman John Malone has committed his future to the business for at least a further two years.
Malone, who was due to retire from PMS at the end of this year, is keen to continue working with the team as the business seeks to build on its market leading position in mortgages, protection and GI.
Commenting on the announcement, John Malone said: “I am looking forward to continuing to work alongside the strong PMS management team of John Cupis, Lisa Martin, Rob McCoy and Roger Crocker. With the increased resources of the Sesame Bankhall Group, there are now greater benefits and opportunities that PMS will be leveraging for intermediaries. We are a strong business with a growing range of services. I look forward to playing an active role in the exciting developments that are taking place within the business.
“Sesame Network members are also telling us about the improved service they are experiencing due to the greater access they have to the knowledgeable and professional PMS team based in Birmingham, so we will clearly be looking to build on that.”
Stephen Young, Sesame Bankhall Group’s Chief Operating Officer commented: “John’s fundamental belief in the benefits to consumers of professional advice is as strong as ever and we are delighted that he is using his experience to help PMS brokers. John’s wealth of industry experience will continue to be put to good use fighting the brokers’ corner, during what is a critical phase given the tough mortgage market and ahead of the FSA’s Mortgage Market Review.”
The Association of Mortgage Intermediaries (AMI) has also announced that John Malone will be the mortgage brokers’ representative on the National Fraud Authority’s mortgage fraud forum.
PMS is part of Sesame Bankhall Group, which in August issued combined results of over £12.7 billion of mortgage applications for the first six months of 2010, confirming its position as the UK’s largest intermediary distributor.