Elect James Sherwin-Smith to represent Nationwide building society members
The first building society began in a Birmingham pub. Now member-backed candidate James Sherwin-Smith is asking whether Britain’s biggest mutual still belongs to the people who own it.
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.
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.
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 […]
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. […]
The boss of Nationwide has seen her pay packet nearly double as she cashed in on bonus awards after steering the building society’s multi-billion pound acquisition of Virgin Money.
But the building society is facing criticism over its handling of the first member-nominated candidate to stand for election to sit on its board. […]
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 […]
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 […]
Dame Debbie Crosbie’s remuneration jumps from £2.49m to £4.67m – and for brokers, the more pressing question is what today’s results say about the lender that now holds one in six UK mortgages.
Last month, Navendu Mishra MP (Labour & Co-operative, Stockport) submitted three important written Parliamentary Questions to HM Treasury about the future governance of Building Societies.
Yesterday, all three received exactly the same response from the Economic Secretary to the Treasury, Rachel Blake MP…
Why the building society’s remuneration vote is advisory, dominated by the Quick Vote, and supported by just 4% of members. At last year’s AGM, the increased package for the CEO of up to £7m was branded by one member as an “obscenity”, as reported at the time in The Guardian. Private Eye noticed at the […]
Ben Marlow (Associate Editor), writing in the Telegraph, in the run up to the 2025 AGM: The mutual’s readiness to ride roughshod over the will of its members goes against everything it claims to be Who said banking was boring? One glance at Nationwide’s website and you might wonder if you were in the company […]
Michael Bow, Chief City Correspondent, writing in The Telegraph ahead of the 2025 AGM: Building society under fire over claims it is stopping ordinary members from joining board Nationwide is facing a backlash over boardroom cronyism after claims it has rebuffed attempts to allow ordinary members of the building society to join its board. The […]
Kalyeena Makortoff, writing in The Guardian today, has highlighted Nationwide’s blatant double standard when it comes to executive pay. Nationwide is arguing that its executives should be paid in a comparable way to executives at large UK banks, but as Nationwide is a building society, members should not be granted a binding vote on the […]
Private Eye (issue 1652, page 8) draws attention to the award of a damehood to Debbie Crosbie, Nationwide CEO, under the title of “KING’S BIRTHDAY TREATS: Honours round-up.” If you’re a Nationwide member, and don’t agree with paying a mutual society CEO 280x what a junior member of staff receives, you may want to use […]