Former member of the College Staff and Editor of the Collegian from 1967-1987, Colm Gallagher served as Vice-Principal of the College from 1989-1991 and was President of the Association from 1994-1995. His history of the Association was first published in Glory from Within: Essays and Perspectives on St. Malachy's College 1833-2008 by the Shanway Press, Belfast in 2009.
In 1926, a meeting was held at the home of the Montague family and from that meeting came the initiatives that brought about the beginnings of the Old Boys' Association. The ground was prepared by a committee under the Chairmanship of Mr. Bernard Gillespie, who was perhaps the longest serving teacher in the history of the College, being a member of staff from 1884 until June 1935. There had in fact been two previous unsuccessful attempts to form an association of former students, but it was the driving force of Mr. Gillespie at this particular time that led to the establishment of what was to become the first Catholic school union in the north of Ireland.