Debbie Crosbie receives £3.2m in bonuses after mutual building society’s takeover of Virgin Money

Nationwide building society has nearly doubled the pay packet of its chief executive, Debbie Crosbie, a year after the board pushed through a controversial bonus scheme for its top boss.

The mutual, which is owned by its members, released its annual report on Monday, showing Crosbie was handed £3.2m in bonuses – a combination of payouts for annual and longer-term performance – up from £1.1m a year earlier.

It pushed her overall pay packet to £4.7m for the year to March 2026, marking an 88% jump on the near-£2.5m she earned for the previous year.

Move comes months after the FCA announced plans to ban the former investment star from holding senior City roles after collapse of popular equity fund

The UK financial regulator is taking legal action against the former investment star Neil Woodford for allegedly offering unauthorised investment advice online, months after announcing plans to ban him from the City.

The Financial Conduct Authority said it was seeking an injunction against Woodford and W4.0, a United Arab Emirates-registered company, to stop them carrying out “potentially unlawful activities”.