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Mortgage industry legend announces retirement

by Staff Reporter9 minute read
The Adviser

A prominent industry figure has called time on his career after 50 years in banking and finance.

Australian First Mortgage director Iain Forbes has announced his retirement from the company he co-founded in 2003 with his daughter, Tanya White, and her husband, David.

"He has seen the business grow from being a small regional non-bank lender into becoming a multi-layered national group of companies," AFM said.

“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.”


Mr Forbes started his career in his native Sri Lanka at the age of 18 before moving to Australia in 1973.

He subsequently held positions with Mercantile Credits, Trade Credits (now Challenge Bank), FAI Home Loans and Homeloans.

AFM managing director Tanya White said Mr Forbes had 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,” Ms White 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.”

Ms White also praised Mr Forbes’ old-school approach to business, which included prioritising honesty, good service and personal contact.

Mr Forbes has offered his services to AFM on a consulting basis, and will use his retirement to spend more time with family, to travel and to immerse himself in his motor car collection.

[Related: AFM slashes fixed rates]