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 January 2019, 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

  • 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.

  • 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.

  • 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

Board of Directors

1. Joe Garner

Joe Garner

Appointment:

Chief Executive Officer since 5 April 2016

Skills and experience:

Joe’s career started with Procter & Gamble and Dixons Carphone. He later took on leadership roles and in 2004 was appointed as Head of HSBC’s Retail and Commercial Bank in the UK. In 2014 he became Chief Executive Officer of Openreach, BT’s Infrastructure division.

Joe became Nationwide Building Society’s Chief Executive Officer in April 2016, inspired by the Society’s principle of mutuality. Since then, the Society has grown its membership to a record 16.3 million, delivered £2.48 billion in member financial benefit and continued to lead its peers on customer service.

Joe’s mission continues to be to inspire colleagues to remain true to the Society’s social purpose, using the power of the collective to improve people’s lives.

Other current positions:

  • Director, UK Finance
  • Member, Financial Conduct Authority Practitioner Panel
  • Chair and Trustee, British Triathlon Trust
  • Member, Economic Crime Strategy Board
  • Co-chair, Inclusive Economy Partnership Financial Capability and Inclusion Steering Committee

Previous positions include:

  • CEO, Openreach
  • Deputy CEO, HSBC Bank plc
  • Head, HSBC’s UK Retail and Commercial Business
  • Non-executive director, Financial Ombudsman Service

2. Chris Rhodes

Chris Rhodes BSc (Hons), ACA

Appointment:

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.

Prior to this appointment, Chris was Nationwide’s Chief Product and Propositions Officer. This 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.

Previous positions include:

  • Trustee, National Numeracy
  • Director, Lending Standards Board Limited
  • Group Finance Director, Alliance and Leicester Group
  • Deputy Managing Director, Girobank
  • Board Director, Visa Europe

3. Rita Clifton CBE

Rita Clifton CBE, MA (Cantab), FRSA

Appointment:

Non-executive director since 1 July 2012 (independent)

Skills and experience:

As a former CEO and Chair of brand consultancy Interbrand, Rita is an acclaimed brand expert. This, and her background in consumer insight, help ensure that member interests are central to Board business. Rita has helped a wide range of iconic British organisations understand how to use research, marketing strategy and communications to build sustainable brand value. She is also a committed advocate for environmental and sustainability issues.

Other current positions

  • Non-executive director, Ascential plc (previously known as EMAP plc)
  • Member, Assurance and Advisory Panel, BP’s carbon off-setting programme ‘Target Neutral’
  • Trustee, Green Alliance

Previous positions include:

  • Non-executive director, ASOS plc
  • London CEO and Chair, Interbrand
  • Vice Chair, Saatchi & Saatchi
  • Non-executive director, Dixons Retail plc
  • Trustee, WWF (Worldwide Fund for Nature)
  • Non-executive director, Bupa
  • Non-executive director, Populus Limited
  • Member, the UK Government’s Sustainable Development Commission

4. David Roberts CBE

David Roberts CBE, BSc (Hons), MBA, CFifs

Appointment:

Non-executive director and Chair elect from 1 September 2014. Chair since July 2015 (independent upon appointment as Chair)

Skills and experience:

David combines a distinctive blend of leadership experience across major listed corporations, the mutual movement, and public service, including 35 years in financial services. He is a passionate champion of Nationwide’s social purpose and of the Society’s commitment to help improve the financial lives of its members. David also strongly believes in the economic value of commerce and the importance of rebuilding trust in big business.

Other current positions:

  • Chair, Beazley plc
  • Chair, Beazley Furlonge Limited
  • Vice Chair, NHS England
  • Associate non-executive director, NHS Improvement
  • Non-executive director, Campion Wilcocks Limited
  • Advisor Board member, The Mentoring Foundation Advisory Council
  • Member, Strategy Board, Henley Business School, University of Reading

Previous positions include:

  • Group Deputy Chair, Lloyds Banking Group plc
  • Executive director, Barclays Bank plc and CEO, International and Commercial Banking
  • Chair and CEO, Bawag PSK AG
  • Non-executive director, BAA plc
  • Non-executive director, Absa Group SA

5. Mai Fyfield

Mai Fyfield MA, BA (Hons)

Appointment:

Non-executive director since 2 June 2015 (independent)

Skills and experience:

Mai 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, an organisation she joined in 1999.

With a strong focus on customer experience and service delivery, Mai previously served as economic adviser to major blue-chip companies. She is a champion of diversity and helping women succeed in senior management and Board positions.

Other current positions:

  • Non-executive director, Roku Inc
  • Non-executive director, BBC Commercial Holdings Limited
  • Non-executive director, ASOS plc

Previous positions include:

  • Director, Jupiter Entertainment
  • Chief Strategy and Commercial Officer, Sky Group plc

6. Tim Tookey

Tim Tookey BSc (Hons)

Appointment:

Non-executive director since 2 June 2015 (independent)

Skills and experience:

Tim is a chartered accountant with over 30 years’ experience in finance, across retail and commercial banking, life assurance and pensions, and insurance. As a former Chief Financial Officer, Tim has the background and expertise to analyse and test the Society’s financial and risk strategies.

Other current positions:

  • Non-executive director, Royal London Mutual Insurance Society Limited
  • Director, Westmoreland Court Management (Beckenham) Ltd

Previous positions include:

  • Chief Financial Officer, Quilter plc (previously known as Old Mutual Wealth Management Limited)
  • Chair, Alliance Trust Savings Limited
  • Chief Financial Officer, Friends Life Group Limited
  • Group Finance Director, Lloyds Banking Group
  • Finance Director, Prudential plc’s UK business

7. Kevin Parry OBE

Kevin Parry OBE, MA (cantab)

Appointment:

Non-executive director since 23 May 2016 and Senior Independent Director since 17 January 2020.

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. He is Chairman of Royal London, the largest mutual insurer in the UK.

He is a former trustee and Chair of the Royal National Children’s Springboard Foundation, a charity providing life transforming opportunities through education to disadvantaged children.

Other current positions:

  • Chair, Royal London Mutual Insurance Society Limited
  • Non-executive director and Chair of the Audit and Risk Committee, Daily Mail and General Trust plc

Previous positions include:

  • Chair, Intermediate Capital Group plc
  • Trustee, Royal National Children’s SpringBoard Foundation
  • Chief Financial Officer, Schroders plc
  • Chief Executive Officer, Management Consulting Group plc
  • Managing Partner, Information Communications and Entertainment, KPMG LLP
  • Senior Independent director, Standard Life Aberdeen plc

8. Baroness Usha Prashar CBE, PC

Baroness Usha Prashar CBE, PC

Appointment:

Non-executive director since 18 January 2017 (independent)

Skills and experience:

Usha is a highly experienced policy adviser, with a singular mix of insight across the public, not-for-profit and broadcasting sectors. Her wealth of public and voluntary sector expertise helps inform Nationwide’s regulatory perspectives and social purpose. Usha shares the Society’s commitment to contributing to local communities and voluntary work.

Other current positions:

  • Member of House of Lords
  • Honorary President, UK Community Foundations
  • Member, the Home Building Review Panel
  • Chair, Cumberland Lodge
  • Chair, Federation of Indian Chambers of Commerce and Industry UK Council
  • Member, International Advisory Board, ASPIDE
  • Member, International Advisory Board, IE Business School
  • Member, EU Internal Market Select Committee, House of Lords

Previous positions include:

  • Deputy Chair, the British Council
  • Member, European Select Committee
  • Non-executive director, ITV
  • Non-executive director, the Cabinet Office
  • Non-executive director, Channel 4
  • Non-executive director, Ealing, Hounslow and Hammersmith Health Authority
  • Inaugural Chair, the Judicial Appointments Commission

9. Gunn Waersted

Gunn Waersted MBA

Appointment:
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. 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.

Other current positions:

  • Chair, Telenor ASA
  • Chair, Petoro AS
  • Member, Fidelity International
  • Non-executive director, Saferoad Holding ASA

Previous positions include:

  • CEO, Wealth Management Division
  • CEO of Nordea Bank Norway and Executive Vice President at Nordea Bank Group
  • CEO, Vital Forsikring and Executive Vice President of DnB
  • Chair, Ferd and BI
  • Non-executive director, Statkraft, Statoil
  • CEO, SpareBank 1 Group

10. Albert Hitchcock

Albert Hitchcock

Appointment:

Non-executive director since 2 December 2018 (independent)

Skills and experience:

Albert 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.

Other current positions:

  • Chief Technology and Operations Officer, Pearson plc

Previous positions include:

  • Technology Adviser to the Board, Royal Bank of Scotland plc
  • Group Chief Information Officer, Vodafone plc
  • Global Chief Information Officer, Nortel Networks

11. Phil Rivett

Phil Rivett

Appointment:
Non-executive director since 1 September 2019 (independent)

Skills and experience:

Phil 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 an exceptional leadership track record advocating a collaborative and inclusive approach.

Other current positions:

  • Non-executive director, Standard Chartered Plc

Previous positions include:

  • Global Chair, Financial Services Group, PricewaterhouseCoopers LLP

  • Joe Garner ‐ Chief Executive Officer
  • Chris Rhodes ‐ Chief Financial Officer
  • Sara Bennison ‐ Chief Product & Marketing Officer
  • Julia Dunn ‐ Chief Risk Officer
  • Mark Chapman ‐ Chief Legal Officer and Society Secretary
  • Jane Hanson ‐ Chief People Officer
  • Alison Robb ‐ Deputy Chief Financial Officer
  • Steve Evenden – Interim Chief Internal Auditor
  • Patrick Eltridge - Chief Operating Officer
  • Claire Tracey - Chief Strategy Officer
  • Janet Chapman – Mission Leader – Moments that Matter
  • Rachael Sinclair – Mission Leader – Homes and Dreams
  • Paul Riseborough – Mission Leader - Hassle Free Money

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Results and accounts

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Our history

Browse through our milestones and achievements and read about our origins, mergers and acquisitions.