Debbie Crosbie, CEO of building society Nationwide, has seen her total pay package almost double since the member-owned mutual’s takeover of Virgin Money, according to the Nationwide annual review.

Crosbie collected £4.67 million for the year ended March 31, 2026, up from £2.5 million in the year prior.

Crosbie’s package included £1.205 million of salary, £193,000 of pension allowance, “annual performance pay” of £1.758 million and “long term performance pay” of £1.464 million.

Nationwide CEO Crosbie is a former top executive at Clydesdale Bank, Virgin Money and TSB.

“The ratio of the Group CEO’s total remuneration versus the total remuneration of the median employee was 109:1 (2024/25: 63:1),” said the annual review.

“The increase is predominantly driven by the vesting of the first awards granted under the LTPP plan in June 2023.

“Only our most senior colleagues are invited to participate in the LTPP plan, with any awards deferred over the long-term. ”

Nationwide chairman Kevin Parr said: “Debbie Crosbie’s pay has increased because it includes a long-term bonus for the first time, reflecting the Society’s outstanding performance and development over the last three years.

“In that period, Nationwide has paid out more to members than at any time in its history, our customer satisfaction lead has doubled, and we now have the largest branch network in the country.

“Because of this, we have been able to quadruple member value and attract, retain and motivate talented people to work at Nationwide.”