February 2026 – The UK government has recently stated that it is “pressing ahead with plans to allow virtual AGMs” (Annual General Meetings). While hybrid meetings that combine physical and online participation can enhance accessibility, the Building Societies Members Association is concerned that supporting virtual-only AGMs would represent a backward step for member democracy and corporate…
Category: News
January 2026 – Nationwide Building Society has announced that Mike Rogers will takeover the chairmanship of the society on 16 July 2026. He is currently chair of Experian and Admiral. Mike Rogers said: “I am honoured to be appointed as the Chair-elect of Nationwide Building Society. Nationwide has an important role as the UK’s largest…
December 2025 – The Financial Conduct Authority (FCA) has imposed a fine of £44mn upon the Nationwide Building Society for lack of proper financial control between October 2016 and July 2021. The fine was originally £62,969,297 but was reduced by 30% for early settlement. The Nationwide failed to address “unacceptable” known deficiencies in its systems for…
September 2025 – The Financial Times reports on a breakfast meeting held by the Reform UK party this week to which the chairman of the Nationwide Building Society, Kevin Parry, was invited. The FT reports – Kevin Parry is one of the first senior UK bankers to engage with Nigel Farage’s right-wing populist party. Building societies claim…
July 2025 – The Guardian article by Nils Pratley questions the need for an overhaul of the governance of this society after the exclusion of members from any involvement in the acquisition of Virgin Money with £2.9bn of members’ money and the CEO’s self awarded £7mn for doing so. “the boast about not being answerable to…
July 2025 – A few of the members of this organisation were permitted to have their moment of mutuality on Friday 25th July at their AGM. Some members were allowed to “have your say” but in accordance with their customary very low standards of corporate governance the directors ensured that the AGM was online-only –…
July 2025 – The directors of Nationwide continue to stir up public opinion against the society because of their efforts to become an unaccountable bank and to massively increase their pay. The following links are to current articles in the Telegraph, Thisismoney and the Guardian. Nationwide’s Self-righteousness Has Been Exposed as a Sham. https://www.telegraph.co.uk/business/2025/07/21/nationwide-self-righteousness-exposed-as-sham/ Nationwide’s…
June 2025 – It emerged last week that Nationwide was preparing to hand Dame Debbie the chief exec at Nationwide a generous new pay package that could earn her a maximum pay-out of nearly £7m. As expected the main beneficiaries of the Virgin money takeover are the directors of Nationwide and the shareholders of Virgin…
June 2025 – Debbie Crosbie the chief exec. of Nationwide Building Society has been given a damehood for her services to financial services. Her honour follows her actions in using £3 billion of members’ money to takeover Virgin Money without obtaining their approval. Elsewhere people are jailed for doing the same with much smaller sums.
April 2025 -James Sherwin-Smith has failed in his attempt to gain sufficient numbers of nominations to stand as a candidate for the board of directors of this society. However he is not easily put off and is determined to make another attempt at the 2026 AGM. James decided to apply through the FCA to have access…