Nationwide Building Society is set for a historic annual general meeting (AGM) in July after one of its longtime members secured enough support to appear on the lender's ballot. The move could result in the first customer serving on the board in nearly 25 years.
Member Secures Board Nomination
James Sherwin-Smith, a 45-year-old Nationwide member, will stand for election at the AGM in July. He garnered more than 250 peer nominations, surpassing the threshold required to run alongside existing directors. The last customer to sit on the board retired in 2002, making this a landmark moment for the building society.
Nationwide, which has branches in Birmingham and competes with major banks such as HSBC UK, Lloyds, Santander, Barclays, and NatWest, serves approximately 17 million customers. Sherwin-Smith commented on the significance of his candidacy: "At a time when Nationwide is integrating Virgin Money, I believe this raises wider questions about member representation, mutual governance, and how contested board elections should work in practice. With a place on the ballot now secured, my focus is on ensuring members have a clear and fair opportunity to make an informed decision about who represents them on the board."
Nationwide's Response
A Nationwide spokesperson confirmed the nomination: "We received a submission from James Sherwin-Smith, which was checked against the society's published rules. Mr. Sherwin-Smith received 256 valid nominations, exceeding the threshold set out in the rules. He will therefore be included on the ballot at the society's AGM."
The online AGM provides Nationwide members with a chance to vote on key decisions and board elections. Nationwide emphasizes its member-owned structure, stating: "We are owned by our members – those with a Nationwide savings, bank, or residential mortgage account. Members had their say at our AGM, voting on key decisions and Board elections."
Topics at the 2025 Meeting
The 2025 AGM also covered how Nationwide delivered value to members, improvements in service, ways the society listens to and acts on member views, and the charities it supports. The upcoming July meeting will be closely watched as members decide whether to elect a customer to the board for the first time in decades.
