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 […]
On Tuesday 9th June at 18:00, James will be joining Andy Agathangelou, founder of the Transparency Task Force, for a deep-dive discussion into governance, democracy and accountability inside the UK mutual sector.
Patrick Tooher, writing for the Mail on Sunday / This is Money: Nationwide has pumped more than £1 billion into Virgin Money’s Clydesdale Bank to prop up the struggling Scottish lender, The Mail on Sunday can reveal. The huge injection is far higher than the £650 million previously reported, and comes as Britain’s biggest building […]
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 […]