Nationwide CEO pay rises to £4.7m after Virgin Money deal

The chief executive of Nationwide Building Society, Dame Debbie Crosbie, has seen her total remuneration nearly double to £4.67 million for the financial year ending March 31, 2026. The increase is largely attributed to bonus awards linked to the society's £2.9 billion acquisition of Virgin Money, a deal she spearheaded.

Crosbie's total package comprised a fixed salary of £1.2 million and bonuses amounting to £3.2 million, supplemented by a pension allowance and benefits. This represents a substantial rise from her £2.49 million pay packet the previous year. Nationwide stated the increase was due to the chief executive exercising a long-term bonus award, initially granted in 2023, which is tied to the building society's three-year financial performance.

Kevin Parry, chairman of Nationwide, said the pay reflected the society's outstanding performance and development over the last three years. He cited that during this period, Nationwide has paid out more to members than at any time in its history, doubled its customer satisfaction lead, and now operates the largest branch network in the country. The society reported a pre-tax profit of £1.49 billion for the year, down from £2.3...