Management

Management

Nationwide is committed to best practice in corporate governance and complies with the BSA Guidance for Building Societies on the Revised UK Corporate Governance Code issued by the Financial Reporting Council. In accordance with the requirements of the Revised UK Corporate Governance Code, which came into effect for accounting periods commencing on or after 1 October 2012, information regarding the Board and its Committees is provided here.

BSA Guidance for Building Societies on the Revised UK Corporate Governance Code (PDF)

The Board

Nationwide is run day-to-day by a Senior Management Team overseen by an elected Board of Directors.

The Board focuses on formulation of strategy, control and review of business performance.  There is a framework of authorities in place which maps out the structure of high level delegation below Board level and specifies those issues which remain the responsibility of the Board.

View the Board's Terms of Reference

Summary of the Chairman’s role

  • Providing leadership to the Board of Directors and management of Board meetings
  • Ensuring the effectiveness of the Board of Directors and the development and evaluation of Directors
  • Fostering a culture of open dialogue and mutual respect between executive and non executive Directors
  • Leading open and honest debate at Board meetings and constructive challenge to the executive decisions
  • Together with other Board members, setting and challenging the strategic direction and risk appetite of the Society
  • Together with other Board members, promoting the long term success of the Society and ensuring the accountability of the Society

Summary of the Chief Executive’s role

  • With the support of the Executive Committee, directing and co-ordinating the management of the Group's business generally
  • With the support of the Executive Committee, leading the Executive Risk Committee to monitor the Group's risk profile and performance and oversight of the Group's risk management committees
  • Implementing and monitoring systems for apportionment and oversight of responsibilities, controls and best practices, policies and processes within the Group
  • Establishing and maintaining effective working relationships with the Chairman, the Board and all Directors and Officers of the Group and being available to the Chief Internal Auditor, the Compliance Officer and the Chief Risk Officer
  • Establishing and maintaining effective working relationships with regulators, the Government, industry sector analysts, trade organisations and the media and strategically influencing and lobbying these bodies as and when appropriate in the best interests of the Group
  • Promoting the Group, its good corporate image and social standing in the UK financial services industry

Board of Directors

Natiowide's board of directors

1. Graham Beale

Graham Beale

BSc, ACA (55)

Term of Office:
Executive Director of Nationwide Building Society since April 2003, Chief Executive since April 2007.

Independent: No

Skills and experience (including directorships):
Graham joined the Society in 1985. He is a chartered accountant by training and was appointed to the Board as Group Finance Director in April 2003. He took up his current role as Chief Executive in April 2007. Prior to his appointment to the Board, he worked extensively in the Finance function and held a number of senior, general management positions within the Society. As Chief Executive, Graham leads the strategic direction of the Group and oversees its operation through chairing the Executive Committee which comprises the Executive and Group Directors. Graham is Chairman of the Financial Conduct Authority Practitioner Panel and a member of the Building Societies Association Council.

2. Chris Rhodes

Chris Rhodes

BSc (Hons), ACA (50)

Term of Office:
Executive Director of Nationwide Building Society since April 2009.

Independent: No

Skills and experience (including directorships):
Chris joined Nationwide in April 2009 from Abbey Santander, where he was Director of Retail Distribution for Alliance and Leicester (A&L). Chris is the Group Retail Director and his responsibilities include Nationwide’s retail product range, distribution and marketing. Chris has spent 20 years working in the financial services sector and his previous positions include Deputy Managing Director of Girobank and Retail Operations Director of A&L. In 2003 he was appointed as Managing Director Retail Banking for the entire A&L Group. In 2007 Chris moved to become Group Finance Director, a role he held until the merger with Santander in 2008.

3. Geoffrey Howe

Geoffrey Howe

MA (Cantab) (64)

Term of Office:
Non Executive Director of Nationwide Building Society since January 2005, Chairman since July 2007.

Independent: Yes (upon appointment)

Skills and experience (including directorships):
Geoffrey has considerable regulatory, management and legal experience in financial services, insurance and investment markets. Geoffrey is currently the Chairman of Nationwide Building Society and of Jardine Lloyd Thompson Group plc. He is also a director of Close Brothers Group plc. He was formerly Chairman of Railtrack Group plc, a director of Investec plc, a director and General Counsel of Robert Fleming Holdings Limited and Managing Partner of international law firm Clifford Chance.

4. Rita Clifton CBE

Rita Clifton CBE

MA (Cantab), FRSA (56)

Term of Office:
Non Executive Director of Nationwide Building Society since July 2012.

Independent: Yes

Skills and experience (including directorships):
Rita holds a number of non executive roles including at BUPA and Populus and is a former non executive director of Dixons Retail plc. She is also a trustee of WWF-UK, and sits on the Assurance and Advisory Board for BP’s carbon off-setting programme. Rita has over 20 years’ senior management experience in a range of roles, with an expertise in demonstrating how brand is an integral part of long-term business strategy and in analysing and understanding consumer perceptions and behaviour. Her executive career has been in advertising, strategic marketing and market research; she was previously Chairman and Chief Executive at Interbrand UK Ltd, and prior to that Vice Chairman at Saatchi & Saatchi. During her career Rita has advised, at the most senior level, some of the UK’s best known organisations, including British Airways, Barclays, BT, Citigroup, Visa and the British Army.

5. Mitchel Lenson

Mitchel Lenson

MBA, BA (Hons), ACIB, FSI (59)

Term of Office:
Non Executive Director of Nationwide Building Society since July 2011.

Independent: Yes

Skills and experience (including directorships):
Mitchel has spent nearly 30 years in the financial services industry and is a former Group Chief Information Officer at Deutsche Bank with responsibility for IT and Operations for all operating divisions of the bank, including its retail banking operations. Mitchel was a member of the Executive Committee for both the Corporate and Investment Bank and the Private Client and Asset Management Division. He has also served as Managing Director, Global Head of Operations & Operations IT at UBS Warburg and as Director, Group Operations at Credit Suisse First Boston. Mitchel was a partner of Olivant & Co, an investment company providing strategic and operational expertise alongside investment capital to financial services businesses in Europe, the Middle East and Asia-Pacific and was a non executive director of NYFIX, a NASDAQ listed company.

6. Alan Dickinson

Alan Dickinson

MBA, BSc (Hons), FSS, FCIB, FCIBS (63)

Term of Office:
Non Executive Director of Nationwide Building Society since June 2010.

Independent: Yes

Skills and experience (including directorships):
Alan has spent more than 40 years in banking, originally joining the Royal Bank of Scotland in 1973, having started his career with Westminster Bank in 1968. He is an experienced retail and corporate banker and a former Executive Committee member of the RBS Group and Chief Executive of RBS UK. Alan is also a non executive director of Carpetright plc, Willis Limited, Brown Shipley & Co Limited and Frogmore Property Company Limited, a governor of the charity Motability and Honorary Treasurer of Surrey County Cricket Club.

7. Tony Prestedge

Tony Prestedge

(43)

Term of Office:
Executive Director of Nationwide Building Society since August 2007.

Independent: No

Skills and experience (including directorships):
Tony is Nationwide’s Group Chief Operating Officer and was previously Executive Director Group Development. He previously held a number of senior executive roles at Barclays PLC, including Managing Director Home Finance and Retail Support and Operations Director. He was a member of both Woolwich plc and Barclays Retail Banking Executive Committees. Tony is accountable for the Group’s operational strategy, performance and transformation and his divisional reports include Customer Services and Product Operations, Telephone Channels, Digital Development, Transformation Delivery, Technology, Payments and Property Services. Tony is a board member of Opportunity Now.

8. Lynne Peacock

Lynne Peacock

BA (Hons) (60)

Term of Office:
Non Executive Director of Nationwide Building Society since July 2011.

Independent: Yes

Skills and experience (including directorships):
Lynne, a former Chief Executive of National Australia Bank’s (NAB) UK business and Chief Executive of Woolwich plc, has over 25 years’ senior management experience in a range of roles comprising brand development, mergers & acquisitions, change management and business transformation, including 15 years at Board level. During her time at NAB, Lynne was responsible for its businesses in the UK consisting of the Clydesdale and Yorkshire Bank. She became Chief Executive of Woolwich plc in October 2000 following its takeover by the Barclays Bank Group, having previously held a number of senior management and board positions at the Woolwich Building Society, both before and after its conversion to a public listed company in 1997. Lynne is a non executive director of Scottish Water and Standard Life plc.

9. Roger Perkin

Roger Perkin

MA (Cantab), FCA (65)

Term of Office:
Non Executive Director of Nationwide Building Society since April 2010 and Senior Independent Director since July 2012.

Independent: Yes

Skills and experience (including directorships):
Roger is a former partner at Ernst & Young LLP and has spent 40 years in the accounting profession. During his time at Ernst & Young he worked with many blue chip clients and advised boards across the spectrum of financial services, including banking, insurance, fund management and private equity. He is also a non executive director at Electra Private Equity plc and Tullett Prebon plc and chairs the Audit Committee of both companies. Additionally, he is a trustee of two charities, Chiddingstone Castle and Crime Reduction Initiatives.

10. Michael Jary

Michael Jary

MA (Oxon), MBA, FRAS (50)

Term of Office:
Non Executive Director of Nationwide Building Society since January 2009.

Independent: Yes

Skills and experience (including directorships):
Michael is a partner of OC&C Strategy Consultants, a global strategy consulting firm with 15 offices worldwide, and served as Worldwide Managing Partner of the firm from 2005 to 2011. He is an advisor to the boards of leading retail and consumer companies in Europe, the USA and Asia. He is a regular commentator on the retail industry, the co-author of a number of books including “Retail Power Plays” and a guest lecturer at INSEAD Business School. He is also the Chairman of Duchy Originals and of The Prince’s Social Enterprises.

11. Mark Rennison

Mark Rennison

BA, FCA (53)

Term of Office:
Executive Director of Nationwide Building Society since February 2007.

Independent: No

Skills and experience (including directorships):
Mark, a chartered accountant, is the Group Finance Director with responsibility for Finance, Treasury, Group Internal Audit and Corporate Development. He is a director of various Society subsidiaries. Prior to his appointment, Mark was a partner at PricewaterhouseCoopers LLP where he worked in the financial services practice with a specific focus on retail and corporate banking; whilst in professional practice, Mark also worked extensively with group treasury operations, leasing and asset finance businesses.

Senior Management Team

  • Graham Beale - Chief Executive
  • Mark Rennison - Group Finance Director
  • Chris Rhodes - Executive Director Group Retail
  • Tony Prestedge - Chief Operating Officer
  • Julia Dunn - Chief Compliance Officer
  • Graeme Hughes - Group Director, Distribution
  • Iain Laing - Chief Risk Officer
  • Alison Robb - Group Director, People, Customer, Communication and Commercial
  • Tony Alexander - Divisional Director Commercial
  • Larry Banda - Divisional Director, Branch Network (North)
  • Martin Boyle - Divisional Director, Business Transformation
  • Michele Faull - Divisional Director, Financial Reporting & Tax
  • Mark Goldman - Divisional Director, Central Distribution
  • Bryce Glover - Divisional Director, Corporate Affairs
  • Jenny Groves - Divisional Director, Customer Experience
  • Simon Hamilton - Divisional Director, Enterprise Development
  • Greg Heaton - Divisional Director, Branch Network (South)
  • Terry Kaye - Divisional Director, Customer Service & Operations
  • Richard Napier - Divisional Director, Mortgages and Savings
  • Anne Obey - Divisional Director, Audit (Chief Internal Auditor)
  • Graham Pilkington - Divisional Director, Banking, Insurance and Investments
  • Lee Raybould - Divisional Director, Financial Performance
  • Andy Townsend - Divisional Director, Treasury
  • Matthew Watkins - Divisional Director, Corporate Development
  • Simon Waite - Group Secretary

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Board matters

Board committees

Board composition and succession plan