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FCA declines investigation into Nationwide election complaint despite confirming Member democracy falls within its remit (Press release)

By James Sherwin-SmithPosted on

FOR IMMEDIATE RELEASE Candidate seeks clarification from FCA on whether regulator considers Nationwide complied with the Building Societies Act as voting continues 20 June 2026, LONDON — 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 today confirmed that the […]

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Virgin Money profits fell before Nationwide Building Society takeover (Mail on Sunday)

By James Sherwin-SmithPosted on

By PATRICK TOOHER, CONSULTANT CITY EDITORUpdated: 00:31, 28 June 2026 LINK: https://www.thisismoney.co.uk/money/markets/article-15934927/Virgin-Money-profits-fell-Nationwide-Building-Society-takeover.html Profits at Virgin Money fell in the year before more than six million of its customers were absorbed into the Nationwide Building Society, the bank’s final set of accounts show. It follows the mutual’s £2.8 billion takeover of Virgin Money in 2024, which created the […]

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12 ways Nationwide has biased an election of 9.3 million people against me – and some notable 1sts (🥇) along the way

By James Sherwin-SmithPosted on

12 ways Nationwide Building Society has biased the 2026 election with an electorate of 9.3 million people  against me – and some notable 🥇Firsts along the way. 1. Using the #QuickVote when there is a Member Nominated Candidate on the Ballot. A🥇First for Nationwide, maybe for all Building Societies? There hasn’t been a Member Nominated […]

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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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Voting “Opens” in Nationwide AGM Election as Questions Remain for Scrutineer CES and Nationwide

By James Sherwin-SmithPosted on

FOR IMMEDIATE RELEASE Voting has formally opened in Nationwide Building Society’s 2026 AGM election. However, questions remain regarding both ballot access and the administration of the election process. 10 JUNE 2026, LONDON – James Sherwin-Smith, the first Member Nominated Candidate to stand for Election to the Board of Nationwide Building Society in more than 20 […]

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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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