Mortgage industry icon announces retirement

by Julia Corderoy03 Mar 2015
Australian First Mortgage founding director Iain Forbes has announced his retirement after 50 years in the banking and finance industry.

A legend in the mortgage industry, Forbes founded the AFM group together with his daughter Tanya White and her husband David in 2003. 

Since then, the non-bank has grown from being a small regional non-bank lender into a multi-layered national group of companies. 

AFM managing director, Tanya White says AFM’s high profile within the industry is driven in no small part by Forbes’ passion for the AFM business in particular, and his dedication to the entire non-bank industry in general.

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

“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.”

Forbes started his career in banking and finance in Sri Lanka at the age of 18. After migrating to Australia in 1973, he began his career here 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, Forbes held a senior general management position at Home Loans Ltd.

In announcing his retirement, Forbes has offered his services to AFM and would like to see the group continue to grow in the years ahead.

White says his old-school approach to business – always prioritising honesty, good service, people-first and personal contact – which will ring true to AFM for many years to come.

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  • by Frank Paratore - Ballast 3/03/2015 1:02:31 PM

    Congratulations Mr Forbes , enjoy your retirement!

  • by John Radicchi 3/03/2015 1:12:31 PM

    It's sad to see Iain stepping down, but it's good to know that he will still be in the background. It has always been a pleasure working with Iain - he is one of the finance industry's true gentlemen. Enjoy every moment of your retirement - you've earned it.

  • by Stephen Dinte 3/03/2015 2:55:52 PM

    Never thought I would see the day that such a stalwart of this industry would step down. Iain has made our industry what it is today, and I for one will miss having him around. He leaves behind some big shoes that will be difficult to fill. May your retirement be all that you wish for my friend.