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 January 2019, information regarding the Board and its Committees is provided here.

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.

Summary of the Chair's role

  • Leads the Board, ensuring it operates effectively in setting the strategic direction of the Society, including shaping the culture in the Boardroom;
  • Sets the tone from the top and epitomises the Society’s culture by fostering open and honest debates in the Boardroom;
  • Fosters a culture of open dialogue and mutual respect between executive and non-executive directors, both in and outside of the Boardroom, including ensuring that each non-executive director provides valuable contributions;
  • Together with the other members of the Board, promotes the long-term success of the Society and ensures the accountability to its members;
  • Provides support and advice to the Chief Executive Officer while respecting executive responsibility.

Summary of the Chief Executive’s role

  • Responsible for the day to day running of the business and accountable to the Board for the Society’s financial and operational performance;
  • Responsible for providing leadership and direction to implement the Society’s strategy having regard to the duty to promote the success of the Society in the interests of members, colleagues and Nationwide’s public and social responsibilities within the wider community;
  • Embodies the Society’s culture and values and develops policies for the Society’s people that drive the right behaviour;
  • Implements and monitors systems for the apportionment and oversight of responsibilities, controls and best practices within the Society, which maintain its operational efficiency and high standards of business conduct.

Summary of the Senior Independent Director's role

  • Provides a sounding board for the Society Chair, providing him with support in the delivery of his objectives;
  • Available to directors if they have concerns when contact through the usual channels (Chair, Chief Executive Officer or other executive directors) has failed to resolve the issue or for which such contact may not be appropriate;
  • Acts as a trusted intermediary for other directors when necessary;
  • Leads the annual review of the Chair’s performance by the Board and responsible, in conjunction with the Nomination and Governance Committee, for the succession process for the Society Chair.

Board of Directors

Kevin Parry OBE

Society Chairman from 1 February 2022. Non-executive director since 23 May 2016, Senior Independent Director since 17 January 2020 to 31 January 2022, Deputy chairman and Chairman Elect from 23 September 2021 to 31 January 2022 (independent on appointment)

Skills and experience:

Kevin is a chartered accountant with a distinguished career in financial services and professional practice, bringing to the Board expertise in audit, regulation, risk management and finance. As a former Chair of the Homes and Communities Agency, his perspective on housing is a valuable asset to the Society.

Kevin has a wealth of experience across a broad range of organisations; he was formerly Chairman of Intermediate Capital Group plc and Senior Independent Director of Standard Life Aberdeen plc as well as having been the Chief financial Officer of Schroders plc and the Chief Executive Officer of Management Consulting Group plc.

In addition, he is former trustee and chairman of the Royal National Children’s Springboard Foundation, a charity providing life transforming opportunities through education to disadvantaged children. Kevin is currently Chair of Royal London Mutual Insurance Limited and non-executive director and Chair of the Audit and Risk Committee of Daily Mail and General Trust plc.

Debbie Crosbie

Chief Executive Officer since 2 June 2022

Skills and experience:

Debbie joined Nationwide as CEO in June 2022. She has over 25 years of experience in financial services leadership. Debbie was previously CEO at TSB where she led the successful turnaround of TSB by delivering a strategy to transform customer experience, make the bank more competitive, improve its reputation and increase colleague engagement - delivering the three-year growth strategy a year early. Prior to TSB, Debbie had extensive experience of leading turnaround strategies and, while Acting CEO of Clydesdale Bank, led preparations for its successful demerger and subsequent IPO. Debbie has overseen the execution of several far-reaching transformation projects. Debbie is a Non-Executive Director at SSE plc. She also sits on the PRA’s Practitioner Panel.

Chris Rhodes BSc (Hons), ACA

Executive director since 20 April 2009

Skills and experience:

Chris was appointed Chief Financial Officer in October 2019. He is a chartered accountant with over 30 years’ experience in retail and commercial banking, holding senior leadership roles across finance, treasury, operations, retail distribution and risk management. His previous positions include Group Finance Director of Alliance and Leicester Group, Board Director at Visa Europe and Deputy Managing Director for GiroBank.

He has been a Director of the Lending Standards Board and a Trustee of National Numeracy. His broad background means he has a deep understanding of the Society and the mutual business model and he is ideally placed to oversee the long-term financial stability of the Society, ensuring the Society continues to invest for the future on behalf of its members.

Mai Fyfield

Non-executive director since 2 June 2015 (independent)

Skills and experience:

Mai Fyfield combines her experience as an economist and strategist with considerable commercial experience to guide the Board’s strategic thinking and assessment of new opportunities and initiatives. She was Chief Strategy and Commercial Officer at Sky until October 2018, where she led strategy and commercial partnerships across the Sky Group plc. During her nearly 20 years at Sky she was a key player in the growth and diversification of the business.

She is a champion of diversity and helping women succeed in senior management and Board positions. She currently holds non-executive directorships with Roku Inc, BBC Commercial Holdings Limited, ASOS plc and The Football Association Premier League Limited.

Albert Hitchcock

Non-executive director since 2 December 2018 (independent)

Skills and experience:

Albert Hitchcock is a leader in information technology with over 30 years in the technology industry. His experience is of huge value to the Society as we continue our ambitious transformation programme to meet the expectations of our members today and in the future.

He was previously a technology advisor to the Board of the Royal Bank of Scotland plc and has held executive positions as a Group Chief Information Officer at Vodafone plc and Nortel Networks. He was previously Chief Technology and Operations Officer at Pearson plc.

Alan Keir

Non-executive director since 1 March 2022 (independent)

Skills and experience:

Alan Keir is an experienced banker who began his non-executive career when he retired as a Group Managing Director and CEO of EMEA at HSBC in 2016, where he had been leading the operations in 30 countries including the UK home market. He has extensive experience in a full range of banking activity, including retail branches and investment banking. His expertise in the retail and commercial banking sector, and his proven track record of delivering a successful commercial banking strategy, whilst redefining the culture and values of a large organisation, will assist the Board in setting and delivering strategic performance. He was previously on the Board of HSBC Bank plc as a non-executive director between 2018 and 2021.

He is Chair of the Sumitomo Mitsui Banking Corporation Bank International plc and chairs its Nominations and Remuneration committees. He is also a non-executive director at Majid Al Futtaim where he is Chair of the Audit and Risk committee.

Debbie Klein

Non-executive director since 1 March 2021 (independent)

Skills and experience:

Debbie has extensive experience in commercial brand and marketing roles. She is currently Group Chief Marketing, Corporate Affairs and People Officer at Sky, where her remit includes responsibility for overall brand and marketing development, as well as leading corporate communications, public affairs, internal communications, and human resources. She is also responsible for Sky’s corporate social responsibility (CSR) programme (‘Bigger Picture’). Her expertise in sustainability and CSR matters will assist with building Nationwide’s future Environmental, Social and Corporate Governance (ESG) agenda.

She was previously Chief Executive Europe and Asia Pacific at The Engine Group, an integrated marketing services business where she worked closely with Sky for 12 years. She held various leadership roles in her 20 years at the firm, including Head of Strategy. Earlier in her career she worked in Strategy and Insight at Saatchi & Saatchi and Nielsen

Tamara Rajah MBE

Non-executive director since 1 September 2020 (independent)

Skills and experience:

Tamara has extensive experience in entrepreneurial ventures and technology and is founder and CEO of an award-winning, venture capital backed global consumer healthcare platform. She has published widely on high growth entrepreneurship and was formerly a non-executive director of the ScaleUp Institute Limited and Entrepreneur First Operations Limited. Prior to launching her own company Tamara was one of the youngest partners at strategy firm McKinsey where she spent a decade in the healthcare practice and led McKinsey’s knowledge and client work on entrepreneurship and technology clusters in life sciences, digital and technology. She brings to the Board vast experience of digital transformation, entrepreneurship and innovation.

She is currently Chief Business and Science Officer of Holland and Barret Limited and holds non-executive directorships with Dot London Domains Limited and London & Partners Ventures Limited.

Gillian Riley

Non-executive director since 1 April 2022 (independent)

Skills and experience

Gillian Riley is a senior banker with an accomplished track record in consumer and commercial banking at Bank of Nova Scotia, which is Canada’s third largest bank. Since 2018, she has been President and CEO of its subsidiary, Tangerine Bank, which Gillian evolved from being a digital deposits bank to an everyday digital bank that’s profitable and has a full suite of banking solutions that consistently wins awards for client satisfaction. She also previously founded the Scotiabank Women Initiative to strengthen equality and support for women entrepreneurs. Gillian is a champion for diversity and community values, contributing in areas such as health, youth issues and gender equality.

She is currently a non-executive director and Chair of Roynat Capital Incorporation. She is also a non-executive director, St Michael’s Hospital and St Michael’s Hospital Foundation in Canada.

Phil Rivett

Non-executive director since 1 September 2019 (independent)

Skills and experience:

Phil Rivett is a chartered accountant with over forty years’ experience of professional accountancy and audit with a focus on banks and insurance companies. Phil has a wealth of experience advising major financial services providers in the UK and on a global basis; he has held various positions at PricewaterhouseCoopers LLP and was Chair of its Global Financial Services Group prior to retiring from the firm, Phil has an exceptional leadership track record advocating a collaborative and inclusive approach.

He is a non-executive director and Audit Committee Chair at Standard Chartered plc.

Gunn Waersted MBA

Appointed Senior Independent Director on 1 February 2022. Non-executive director since 1 June 2017 (independent)

Skills and experience:

Gunn has a distinguished international career, including senior leadership positions in financial services, telecommunications and petrochemicals. Gunn previously served as Group Vice President at Nordea Bank Group and was CEO of Nordea Bank Norway. In addition she has been CEP at SpareBank Group and Vital Forsikring. Gunn was a non-executive director of Statkraft, Statoil. She brings to the Board vast experience of driving large-scale operational, cultural change and digital transformation programmes to improve customer experience. She is a strong advocate of the need for strong people cultures and creating genuinely diverse organisations.

She is currently Chair of Telenor ASA, Petoro AS and Obton AS and non-executive director of Fidelity International.

Nationwide Leadership Team

Gavin Smyth ‐ Chief Risk Officer

Gavin Smyth has been Nationwide’s Chief Risk Officer since November 2020, helping to keep the Society, and its members, safe and secure. Gavin joined the Society in 2017 leading independent oversight and management of the Society’s conduct and compliance and prudential risks. Gavin has significant experience working in financial services having previously held senior roles at Tandem Bank, PricewaterhouseCoopers and the Royal Bank of Scotland.

Mark Chapman ‐ Chief Legal Officer and Society Secretary

Mark joined Nationwide in March 2018 as Leader of Legal and Secretariat delivering expert advice and guidance on legal and regulatory issues, as well as comprehensive secretariat service. Mark was Society Secretary until March 2021. Before joining Nationwide, Mark spent a year volunteering as a teacher in South Africa. He previously served as General Counsel of Barclays UK and General Counsel at Nomura International having started his career as a litigator at Freshfields in both London and New York.

Jane Hanson ‐ Chief People Officer

Jane joined Nationwide in 2018 and in September 2019 was appointed as Chief People Officer, leading the Society’s people, culture and inclusion experience. Previously, Jane was Chief People Officer for Yorkshire Building Society, with responsibility for people experience along with communications. Jane spent 13 years at HSBC, where she was HR Director for First Direct and also held business leadership roles such as Customer Experience and Branch Network leadership. Jane is a member of the Financial Services Culture Board and the Financial Services Skills Commission.

Claire Tracey - Chief Strategy and Sustainability Officer

Claire joined Nationwide in September 2019 and is responsible for Nationwide’s Strategy Community including strategy delivery, innovation, venturing and disruptive business growth and corporate development. She also leads the Society’s response to climate change. Claire chairs the Society’s Responsible Business Committee and the Strategic Investment Committee. She was previously a Partner & Managing Director at Boston Consulting Group.

Janet Chapman – Mission Leader – Moments that Matter

Janet joined Nationwide in January 2017 as Chief Internal Auditor. She currently leads the Moments that Matter Member Mission which focuses on building and delivering unique services and experiences to support members at times when they need it. Prior to joining Nationwide, Janet was Chief Auditor for institutional businesses at Citigroup. Before that, she was Chief Auditor for the Americas at The Bank of Tokyo Mitsubishi. Her early career was spent with Accenture as an IT consultant.

Rachael Sinclair – Mission Leader – Homes and Dreams

Rachael joined Nationwide in 2008 and has carried out multiple roles across the Society including Head of Operational Strategy, Director of Channel Strategy and Operations and Director of Strategic Planning. She is currently responsible for leading the Homes and Dreams Member Mission, which involves bringing together the end to end running of the Society’s mortgage, investment and protection businesses. Prior to joining Nationwide, Rachael spent the previous decade working in various roles across Europe, Africa and Asia with Barclaycard.

Paul Riseborough – Mission Leader - Hassle Free Money

Paul joined Nationwide in July 2020. He is responsible for leading the Hassle Free Money Member Mission, which involves developing a simple, connected and secure banking proposition for members. Prior to Nationwide, he spent 8 years at Metro Bank, where he was Chief Commercial Officer running the product, digital, communications, data and marketing teams. He is a Finance Fellow at the Aspen Institute in the US, which focuses on improving the relationship between finance and society to create a more sustainable future.

Mandy Beech – Member Experience Director, Retail Distribution & Servicing

Mandy joined Nationwide in 2010 and has a deep understanding of retail financial services and a wealth of experience in leading operational teams. She currently leads the Branch, Contact Centre and Digital Servicing teams as well as representing our member-facing teams across the Society. Mandy is passionate about the critical role these teams play in bringing our brand to life and the service they provide to our members. Prior to joining Nationwide Mandy led large retail teams within Royal Bank of Scotland.