Malcolm has a distinguished career in consumer goods and retailing. He served Zayre Stores as Chairman and Executive Vice President of Zayre Corporation until 1987, and then took on a series of Chief Executive Officer roles at Regina Electric, Channel Home Center, Morse Shoe, and Ekco Group. Malcolm is a current or former director of more than a dozen companies, including One Price, Inc., Maxwell Shoe, Stethtec Inc., Paratek Pharmaceuticals, U.S. Trust and Active International. Malcolm also served as Chairman of the Board of Trustees of Brandeis University. He is a past chairman of the Boston Museum of Science, Tufts-New England Medical Center, the New England Sports Lodge of B'nai Brith and the Two Ten International Foundation. Malcolm also serves as a trustee of many organizations, including the Mass Eye and Ear Infirmary, the Fourth of July Foundation and the MA Cultural Council.