View more on these topics

Nationwide bosses to pocket £8.5m

Nationwide will pay out a whopping £8.5m to its executive directors in 2007 – nearly double the amount it handed over in 2006.

This massive jump is mainly down to the fact that three executive directors are retiring from the society, collecting £6.5m between them.

The most prominent of the three, former chief executive Philip William-son, received a massive £1.6m for agreeing to take early retirement. In total, Williamson took home a total of £3.2m, including his £605,000 salary and an annual bonus of £374,000.

The two other directors who retired from the Nationwide board also took home huge cheques.

Bernard Simpson, the former de-puty chief executive, received a total of £1.9m including an £890,000 settlement, while Jim Willens, the former head of group services, walked away £1.3m better off, with £926,000 of this being his retirement settlement.

Stuart Bernau, group retail director at Nationwide, will receive a total of £765,000 in 2007. This figure includes his salary of £368,000 and a £179,000 annual bonus. This is broadly in line with his earnings in 2006, when he took home £760,000.

Graham Beale, former group fi-nance director of Nationwide and Will-iamson’s replacement, has seen his salary jump from £340,000 in 2006 to £374,000 in 2007. In total, he will take home £784,000 in 2007.


OFT puts spotlight on house building industry

The Office of Fair Trading has revealed it will investigate the effectiveness of the house building process in the UK.Following the recommendations of the Barker Review of Housing Supply 2004, the OFT has been monitoring the house building market and is concerned that it may not be working well for consumers. The trading regulator is […]

RBS led consortium will make ABM Amro bid mid-July

The consortium group led by Royal Bank of Scotland looking to beat Barclay’s bid for Dutch bank ABN AMRO has revealed it will make its £71bn offer in mid-July.The consortium, made up of Fortis, RBS and Santander, says it is making good progress on regulatory change of control and anti-trust filings.The Banks expect to file […]

Society calls on Brown to make Stamp Duty changes

Nationwide has called on Gordon Brown to do more to help home buyers. The society believes Brown, who succeeds Tony Blair as Prime Minister this week, can do this by linking Stamp Duty limits to house price inflation. Nationwide says if the Stamp Duty threshold had been raised in line with house price inflation since […]

SHIP fees will rise 400% to pay for new staff

Safe Home Income Plans has revealed it is increasing its fees from £6,000 a year to £24,000 to pay for a full-time director-general and two members of support staff.Following a strategic review by non-executive chairman Laurie Edmans, SHIP decided to increase its staff levels and set up a central London office.As all SHIP activity until […]

Health Shield logo - thumbnail

Health Shield launches new and improved health and wellbeing benefits

As part of its commitment to help even more companies improve employee wellness and productivity, award-winning health cash plan and wellbeing provider Health Shield has announced a raft of new and improved health benefits. From early diagnostics, detection and screening services to rehabilitation and the extension of home care support to parents, Health Shield’s range […]


News and expert analysis straight to your inbox

Sign up