Elect James Sherwin-Smith to represent Nationwide building society members
It was reported in the Mail on Sunday yesterday that Virgin Money’s profitability has again fallen, with profits after tax of £113 million for the year ending 31 March 2026. This will be the last year of accounts that substantially report on the performance of the business acquired by Nationwide, following the Part VII legal […]
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 […]
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.
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 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’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.
Nationwide has been 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 mutual has opted […]
Not since the keen-eyed Inspector Goole shattered the comfortable illusions of the Edwardian elite has an uninvited guest threatened to sour a private feast’s mood so sharply.
James Sherwin-Smith, the man attempting to clinch a seat at that exclusive dinner party otherwise known as Nationwide’s board could be just […]
My thanks to Samuel Norman and the team at City AM for the coverage on the Business As Usual podcast today. We talked about You can listen to the episode via YouTube below (starts 3m32s) or these podcast platform: Spotify, Apple, Buzzsprout. This post was also shared on Facebook, LinkedIn and X/Twitter.
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 […]
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 […]
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 […]
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 […]
You might have seen reports in the press this week that the High Court has approved the transfer of Virgin Money’s business into Nationwide (e.g. The Sun, The Mirror). This was a legal application made by Nationwide to transfer nearly all assets, liabilities and customers of Clydesdale Bank plc (trading as Virgin Money) into Nationwide. […]
The Financial Conduct Authority (FCA) has fined Nationwide Building Society £44,078,500 after identifying serious weaknesses in the society’s anti-money laundering (AML) systems and controls (see also reports from Guardian, BBC). The regulator’s Final Notice published on 11 December 2025 states that between October 2016 and July 2021 Nationwide’s financial crime controls were not sufficiently effective, […]
Costs related to the Virgin Money bank acquisition continue to rise at Nationwide building society. With years of integration work yet to begin, Nationwide members should be concerned. When the deal was proposed, the building society sought to placate its members (who were calling for a vote) with assurances that the deal represented “good value” […]
My thanks to Patrick Tooher and Jane Denton for writing this article for the Daily Mail (online edition: This is Money). It follows a longer post I wrote about the “Big Thank You” payment: The Big Nationwide “Thank You”: £50 for what and why? You can read the article in full here: Nationwide forced to […]
Nationwide announced this week the “Big Nationwide Thank You” – a £50 one-off payment to eligible members. This is entirely separate to the recent annual (but not guaranteed, or clearly defined) Fairer Share Payment. This “thank you” payment is another example as to why members should be more engaged, and members’ perspectives better represented, at […]
Disclaimer: Nothing herein is financial advice. Please do your own research and make your own, informed decisions when selecting a financial product or service. I was asked by Simon English, ex City Editor of The Standard (and Nationwide member) last week what I thought of Nationwide building society’s decision to increase the interest rate on […]