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Nationwide challenger asks FCA to investigate after Society edited Election Address, departing from previous election practice

By James Sherwin-SmithPosted on

FOR IMMEDIATE RELEASE
First Member Nominated Candidate at Nationwide for more than 20 years

• Nationwide removed website addresses and QR code from Election Address before distributing it to Members

• Historic Nationwide AGM materials show previous Member Nominated Candidates were permitted to publish websites, email addresses, postal addresses and telephone numbers

• Candidate asks why different standards now apply

LONDON, 11 June 2026 – James Sherwin-Smith, the first Member Nominated Candidate to stand for election to the Board of Nationwide Building Society in more than twenty years, has asked the Financial Conduct Authority (FCA) to investigate changes made by Nationwide to his Election Address after discovering that previous Member Nominated Candidates were allowed to publish extensive contact information in Society voting materials.

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Nationwide boss Dame Debbie Crosbie sees pay packet nearly double after Virgin Money takeover (The Independent)

By MaddyPosted on

This sum comprised a fixed salary of £1.2 million and bonuses amounting to £3.2 million, supplemented by a pension allowance and other benefits. The company’s pay committee said it was “comfortable that remuneration outcomes reflect the society’s excellent performance”. Nationwide made a pre-tax profit of £1.49 billion for the year to the end of March, which was down from the £2.3 billion reported the previous year.

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Nationwide advert lays trap for its own boss (The Times)

By MaddyPosted on

In the latest TV ad from Nationwide poking fun at its shareholder-owned rivals, the self-important bank boss played by Dominic West grumbles “I deserve a bonus” when he’s told the building society is doling out £100 payments to millions of members. Just wait until he hears about the awards the mutual has handed to its chief executive.

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Nationwide nearly doubles CEO’s pay packet to £4.7m despite bonus row (The Guardian)

By MaddyPosted on

Nationwide building society has nearly doubled the pay packet of its chief executive, Debbie Crosbie, a year after the board pushed through a controversial bonus scheme for its top boss. The mutual, which is owned by its members, released its annual report on Monday, showing Crosbie was handed £3.2m in bonuses – a combination of payouts for annual and longer-term performance – up from £1.1m a year earlier. It pushed her overall pay packet to […]

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Nationwide boss Debbie Crosbie banks £4.7m payday after Virgin Money deal (City AM)

By MaddyPosted on

The boss of Nationwide has seen her pay almost double since the building society’s blockbuster takeover of Virgin Money. Debbie Crosbie, who has steered the mutual since 2022, bagged a £4.7m pay packet in the last financial year, up from £2.5m the year prior. Nationwide has found itself in a new controversy of the last few months after being accused of picking an “unfair fight” with one of its members who has sought to clinch a seat on the building society’s board. […]

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Nationwide doubles boss’s pay despite backlash (The Telegraph)

By MaddyPosted on

The boss of Nationwide saw her pay nearly double last year despite concerns about banker-style bonuses at the mutual. Dame Debbie Crosbie, who steered Nationwide’s takeover of Virgin Money, saw her pay increase from £2.49m to £4.70m for the year ending March 2026 after her bonuses tripled. According to the latest accounts for the building society, it makes Dame Debbie the […]

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Nationwide boss’s pay doubles to £4.7m after Virgin Money deal (The Times)

By MaddyPosted on

The boss of Nationwide’s pay package has nearly doubled over the past year after Britain’s biggest building society almost tripled her maximum bonus entitlement to more than £3 million. Dame Debbie Crosbie received total remuneration of nearly £4.7 million in the year to March 31, up from £2.49 million over the previous 12 months, Nationwide announced in its annual report on Monday. She is also in line for […]

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Mutual suspicion over Nationwide’s ballot (The Times)

By James Sherwin-SmithPosted on

James Sherwin-Smith, a member-nominated candidate for the board, is crying foul about the way the building society is organising the vote By Ben MartinThursday June 04 2026, 8.50pm, The Times Link: https://www.thetimes.com/business/companies-markets/article/nationwide-building-society-vote-james-sherwin-smith-rst096r25 Ask Dame Debbie Crosbie, chief executive of the customer-owned Nationwide Building Society, whether the mutual is open to members joining its board and her […]

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Nationwide ‘weaponising’ voting system, says board challenger (The Times)

By James Sherwin-SmithPosted on

James Sherwin-Smith, who is attempting to secure a board seat but is locked in a dispute with the building society, has complained to the FCA By Guy TaylorThursday June 04 2026, 4.40pm, The Times Link: https://www.thetimes.com/business/companies-markets/article/nationwide-building-society-sherwin-smith-5x8kwgnh8 A Nationwide customer pushing for a seat on the building society’s board has urged Britain’s financial regulator to intervene after […]

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Member Candidate says Nationwide blocked warning on Quick Vote days before AGM ballots issued (Press Release)

By James Sherwin-SmithPosted on

FOR IMMEDIATE RELEASE Member Candidate says Nationwide blocked warning on Quick Vote days before AGM ballots issued • Candidate requested permission to tell Members not to use Quick Vote if they wished to support his election • Request refused despite Board decision to recommend Members vote against him • Website address and QR code removed […]

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Member Nominated Candidate calls on FCA to review election fairness ahead of 2026 AGM voting form distribution

By James Sherwin-SmithPosted on

Public Statement – Saturday 30th May 2026 I’m grateful to Jasper Jolly for the article published this past Friday surrounding this year’s Board election process: Nationwide customer seeking election to board hits out at lender for ‘unfair’ treatment (The Guardian). One issue raised in the article is particularly important. Nationwide has refused requests to amend […]

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Nationwide customer seeking election to board hits out at lender for ‘unfair’ treatment (The Guardian)

By James Sherwin-SmithPosted on

James Sherwin-Smith says field tilted against him after decision to give members ‘quick vote’ against candidacy.

He said the move to make a vote against him the default was a “dangerous precedent for mutuals and democratic governance”. The Labour MP Navendu Mishra last week criticised “emerging governance issues” across the building society sector. Nationwide has also blocked Sherwin-Smith from […]

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My counter to Nationwide’s statements made today regarding my suitability

By James Sherwin-SmithPosted on

[UPDATE 28th May, 19:36 I have now obtained a copy of Nationwide’s “reactive media statement” briefing against my candidacy. I urge supporters to review my below responses and — with regards to Note 4 in Nationwide’s statement — to consider my response on the quick vote here: Fact checking Nationwide’s statement re ’emerging governance issues’.] […]

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Rebel customer faces ‘unfair fight’ for seat on Nationwide board (The Times)

By MaddyPosted on

The rebel Nationwide customer campaigning to join the building society’s board has accused it of orchestrating an “unfair fight” after the mutual urged its members to oppose him.

Britain’s biggest building society said on Thursday it was recommending that its members vote against James Sherwin-Smith’s election as a director at its annual meeting in mid-July because its board had concluded […]

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Nationwide picks “unfair fight” with Member board candidate (Press Release)

By James Sherwin-SmithPosted on

FOR IMMEDIATE RELEASE Nationwide picks “unfair fight” with Member board candidate LONDON, May 28th, 2026 — James Sherwin-Smith, the only Member Nominated Candidate for the Nationwide Board, is urging Nationwide to rethink its decision on Board recommendations. It comes as the building society today confirmed the Member Nominated Candidate will not be recommended for election […]

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Podcasts on Spotify

By James Sherwin-SmithPosted on

James has been featured on the following podcasts. Spotify embeds below, but these can be found on other podcast platforms e.g. Apple, Buzzsprout etc. In The Company of Mavericks Episode 136: released 20th May 2026 – full interview City AM Business as Usual Episode 17: released 26th May 2026 – interview at 3m 25s Episode […]

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Nationwide pressed to address ‘emerging governance issues’ as AGM looms (The Guardian)

By James Sherwin-SmithPosted on

Labour MP writes to chair amid concerns building societies are overusing quick votes and failing to add members to boards Kalyeena Makortoff. Banking correspondentSun 24 May 2026 12.00 BST Link: https://www.theguardian.com/business/2026/may/24/nationwide-governance-agm-building-societies-boards Nationwide is under pressure to address “emerging governance issues” across the building society sector, amid concerns bosses are bundling voting options and failing to […]

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The Maverick Taking On Nationwide (ITCOM podcast)

By James Sherwin-SmithPosted on

James Sherwin-Smith & Why Every Member Should Exercise Their Democratic Right to Vote Understand the important role mutuals play in UK retail banking I enjoyed talking to Jeremy McKeown on his podcast “In The Company Of Mavericks”, out today. We covered: If you’re interested in the stories behind the headlines in Financial Services and personal […]

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Nationwide boss faces her moment of truth on £2.9bn gamble (The Times)

By James Sherwin-SmithPosted on

Members were never given a say on the mutual’s biggest takeover since it was founded in 1884 — now they are going to see whether it was worth it Ben Martin, Banking Editor Sunday May 17 2026, 2.40pm Link: https://www.thetimes.com/business/companies-markets/article/nationwide-results-virgin-merger-integration-member-director-57bt8tfbh When Nationwide revealed in March 2024 that it was spending £2.9 billion snapping up Virgin […]

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Nationwide Fairer Share: Members could get another £100 this week (Mail on Sunday)

By James Sherwin-SmithPosted on

Patrick Tooher, Consultant City EditorUpdated: 11:45, 17 May 2026 Link: https://www.thisismoney.co.uk/money/markets/article-15823361/Another-100-bag-Nationwide-members.html Nationwide will announce another £100 profit-sharing bonus for each of its more than four million eligible members when it posts annual results on Thursday. It will be the fourth year running that Britain’s biggest building society has made the payment under its Fairer Share […]

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Will a Nationwide customer’s boardroom challenge shake up UK corporate governance? (The Guardian)

By James Sherwin-SmithPosted on

A decade after Theresa May spoke of radical reform, the mutual faces a bid that is testing the limits of democracy Kalyeena Makortoff, Banking correspondentSun 17 May 2026 11.00 BST Link: https://www.theguardian.com/business/2026/may/17/nationwide-customer-boardroom-corporate-governance-mutual [NB The Monday 18th May 2026 print edition carried an abridged version, shown below. The full text follows beneath. Accompanying posts made on […]

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Nationwide: Democratic deficit (The Week)

By James Sherwin-SmithPosted on

My thanks to a supporter for bringing this to my attention. Nationwide: democratic deficit “Top marks for perseverance,” said Nils Pratley in The Guardian. James Sherwin-Smith – a long-term customer campaigner for more transparent governance at Nationwide – has secured the necessary 250 nominations to get his name on the ballot paper for elections to […]

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