November 2015 – Joe Garner the chief executive of BT Open Reach is to leave after just two years in the job to replace Graham Beale, chief executive of “Your” Nationwide Building Society in the spring of 2016. Joe Garner was previously the UK head of HSBC again for just two years after rising through the ranks over a period of 8 years. His previous employers included Dixons, Proctor & Gamble, and mobile phone retailer The Link.
It is expected that he will be pocketing the same increasing amount of members’ money each year as Graham Beale (£3,3000,000 at the last count and climbing fast).
In accepting the post Mr Garner states “Nationwide is uniquely placed to lead and succeed in the next chapter of retail financial services in the UK”. We believe he has got to do a lot more than Graham Beale achieved if he believes what he says.
This will be a new venture for “Your” Nationwide too as it has been customary for the chief executive to progress through the ranks.
Graham Beale has worked at “Your” Nationwide since 1985 and has been chief executive since 2007. He will still have plenty of work in various rolls in the banking industry to occupy some of his time.