Industry Legend Announces His Retirement

Industry Legend Announces His Retirement

After 50 years in the business, AFM’s Iain Forbes calls time-out on an illustrious career

Australian First Mortgage has announced that one of its founding director’s, Iain Forbes, will retire after approximately 50 years in the banking and finance industry.

A legend in the industry, Mr Forbes started his career in Sri Lanka at the age of 18. After migrating to Australia in 1973 he has held many high profile positions within the industry and in 2003, together with his daughter Tanya White and her husband David, he founded the AFM Group of Companies.

He has seen the business grow from being a small regional non-bank lender into becoming a multi-layered national group of companies. AFM’s high profile within the industry is driven in no small part by Mr Forbes’ passion for the AFM business in particular, and his dedication to the entire non-bank industry in general.

AFM Managing Director, Tanya White, said Mr Forbes will be missed.

She said he has been an integral part of the growth, development and running of the AFM business.

“A voice of strength and never ending energy, Iain has allowed no-one and nothing to stand in the way of AFM,” she added.

“Not only is Iain a major part of our business, but he has been an industry stalwart for many, many years. He is extremely well known and, in fact, a good friend to many,” said Ms White.

Ms White also praised Mr Forbes’ old-school approach to business – always prioritising honesty, good service, people-first and personal contact.

His motto of ‘pick up the phone and talk’ (rather than use email) will ring true for many years to come, she said.

Mr Forbes began his career in Australia with Mercantile Credits. From there he moved to Trade Credits (now Challenge Bank Ltd) and FAI Home Loans Ltd. Prior to founding Australian First Mortgage Mr Forbes held a senior general management position at Home Loans Ltd.

Mr Forbes strongly believes in service at all costs and does not tolerate inefficiencies. In announcing his retirement, Mr Forbes has offered his services to AFM and would like to see the group continue to grow in the years ahead.