Joe Garner will join Nationwide from BT Group where he is Chief Executive of Openreach, a position he has held since early 2014. Prior to that he was Deputy Chief Executive of HSBC Bank PLC and Head of HSBC in the UK, roles which included responsibility for all of HSBC’s retail and commercial banking business, including Marks and Spencer Bank, First Direct and The John Lewis Partnership Card. He has also held senior positions at Dixons Stores Group and spent the early part of his career at Procter and Gamble. Joe was the Chair of the FSA Practitioner Panel from 2011-2013 and a Non-Executive Director of the Financial Ombudsman Service from 2007-2010. He is also the Chair of The British Triathlon Foundation Trust.

Commenting on the appointment, Nationwide’s Chairman David Roberts said: “I am delighted that Joe Garner has agreed to join Nationwide Building Society as Chief Executive, succeeding Graham Beale. Nationwide is the UK’s largest mutual building society and our vision is to be the stand out retail financial services provider in the eyes of consumers. As a member owned organisation, our sole focus is to deliver exceptional products and services to our members at every stage of their lives. Joe has an excellent track record in delivering outstanding service to customers across the financial services and retail sectors, and is a passionate advocate that financial services organisations should always put the customer first.

“Joe is an exceptional leader and is exactly the right person to lead the Society through the next chapter of its journey. I look forward to welcoming him to the business.”

Joe Garner said: “I am thrilled to have been asked to become Chief Executive of Nationwide Building Society. Nationwide has a remarkable heritage, and the fact that as a mutual it is owned by its customers means that it is uniquely placed to lead and succeed in the next chapter of retail financial services in the UK. I look forward to listening and learning from members and employees alike, and I hope and plan to build upon the success of Graham Beale.”

Regulatory approval has been received under the current Approved Persons Regime. This is subject to the incoming Senior Managers Regime arrangements being introduced in March 2016.