Global financial markets were shocked to hear of the untimely death of Padraic Fallon, chairman of Euromoney Institutional Investor, on October 13, after a year-long battle with cancer. He was 66.
Fallon was born and grew up in Ireland, the son of a famous Irish poet also called Padraic, and finished his education at Trinity College, Dublin. After initially persuading Sir Patrick Sergeant to hire him for the Daily Mail, Fallon followed Sargeant to Euromoney where he became the editor of the magazine in 1974 at the age of 28.
He quickly transformed it into the best-read and most influential monthly about international finance and capital markets first in Europe and, shortly after, globally. Fallon subsequently moved on to run the business, become a managing director of Euromoney Group in 1985 and chairman in 1992. Under his guidance the company flourished.
Fallon squeezed the most out of every moment of his life. Few who met him will forget the experience, whether they did so in his capacity as a charming company ambassador, keen tennis player, enthusiastic traveller or shrewd journalist and editor.
As Euromoney chairman Fallon combined his intellect with a natural warmth and charm. He possessed a gift for finding common ground with people; rare was the meeting that did not end up filled with laughter shortly after he had been introduced.
Stories of the Irishman’s piercing insight and roguish wit abound within Euromoney and the capital markets at large. Fallon’s quarterly editorial review e-mails to the company’s journalists demonstrated all these qualities, along with his demanding editorial standards. Fallon was generous with his praise of the journalists who best encapsulated the qualities he most admired: inquisitiveness, accuracy and tenacity. However he was quick to criticise sloppy journalism or—his personal bugbear—the inaccurate use of words.
While Fallon was most intimately involved with Europe’s financial markets, he had a long relationship with Asia and was an early advocate of the region’s potential. He set up and hosted Euromoney’s first China conference in 1985 alongside the People’s Bank of China and oversaw the establishment of the company’s Hong Kong office. Fallon was strongly supportive of Asiamoney, and played a key role in its creation in 1989.
He was a regular visitor to Asia too, both to promote the company and to reinforce his personal view that Asia will be the key engine of global growth in the 21st century. Asian leaders – both in government and finance – warmed to him. They enjoyed quizzing him on global affairs and were appreciative of his knowledge and insight. Perhaps more importantly, they grew to like and respect him as a person and they developed friendships that for many spanned generations.
He leaves his wife Gillian and their four children Jolyon, Nicola, Harriet and Annabel. He will be sorely missed.