Joe Garner (businessman)
Johnson Daniel Garner | |
|---|---|
| Born | June 23, 1969 Hertfordshire, England |
| Occupation | Business executive |
| Years active | 1991–present |
| Known for | Chief Executive of Nationwide Building Society (2016–2022), CEO of Openreach (2014–2016) |
Johnson Daniel Garner (born 23 June 1969) held the position of chief executive at Nationwide Building Society, the largest mutual financial institution in the UK, from May 2016 until June 2022. Prior to this, he occupied senior leadership roles within BT’s infrastructure arm Openreach, as well as at HSBC and Procter & Gamble.
Early life
Garner was born in Hertfordshire and has two elder sisters. His father, who worked as an aeronautical engineer at de Havilland, married Alegra Mizrahi in 1959.
He completed his education at King's College School, an independent institution in Wimbledon, graduating in 1987. He then pursued a degree in Geography at Magdalene College, Cambridge.
Early career
Garner commenced his professional journey in 1991 as a graduate trainee with Procter & Gamble (P&G), dedicating nine years there, including five spent in Romania and a period at their European headquarters located in Brussels. In 2001, he transitioned to Dixons, taking on the role of Marketing Director at mobile retailer The Link. Two years later, in 2003, he was instrumental in launching Immobilise, a platform designed to combat mobile phone theft by blocking the reprogramming of stolen devices.
HSBC
In 2004, Garner joined HSBC. By 1 December 2010, he had been appointed Head of UK Retail Bank and Group General Manager, while also serving as deputy head of HSBC UK. He played a pivotal role in introducing the Treating Customers Fairly initiative within the bank. Garner exited HSBC at the conclusion of October 2012.
BT
Garner assumed the role of chief executive for BT’s infrastructure division Openreach in February 2014. Under his leadership, superfast broadband coverage surpassed 90%. He departed from this role in April 2016 to take up the chief executive position at Nationwide Building Society.
Nationwide
Garner commenced his tenure at Nationwide on 5 April 2016, succeeding former CEO Graham Beale. His remuneration package comprised a £885,000 salary, a £292,000 pension allowance, a £1 million bonus, and daily expenses amounting to £500 covering travel, security, and medical needs. Amid the coronavirus pandemic in April 2020, Garner was among the initial financial services CEOs to reduce his salary and relinquish his bonus.
In March 2021, Nationwide declared that its workforce of 13,000 employees could operate remotely from any location. Garner highlighted this as empowering staff with autonomy over their work environment. On 23 September 2021, he formally requested the Board to begin succession planning for a seamless leadership handover. At Nationwide’s half-year results announced in November 2021, profits had more than doubled compared to the previous year, reaching £853 million.
By May 2022, Nationwide reported record-breaking financial performance since its establishment in 1884, posting a profit of £1.6 billion for the fiscal year 2021/2022. Garner credited this achievement to disciplined execution and clarified that all profits were retained to provide flexibility for his successor. On 2 June, Debbie Crosbie—formerly CEO of TSB—assumed the role of CEO following Garner’s departure.
Industry roles
Garner has held board membership at UK Finance, the trade association representing the finance sector. He was also part of the Practitioner Panel of the Financial Services Authority, chairing it from 2011 through 2013. Between 2008 and 2010, he served as a non-executive director at the Financial Ombudsman Service.
On 10 July 2023, Chancellor Jeremy Hunt appointed Garner to lead an independent review focused on the Future of Payments, tasked with developing recommendations to advance retail payment systems.
Additional appointments
On 5 February 2024, Garner was designated by the Cabinet Office to serve on the committee responsible for developing plans for a lasting memorial and legacy initiative in tribute to Queen Elizabeth II.
Personal background
Garner is passionate about triathlon, achieving 15th place in his age category at the 2018 European Championships. He led the Triathlon Trust as chairman from 2012 until 2020 and was later honored with the title of Patron by the British Triathlon Federation, an accolade granted infrequently.
See also
- Chris Pilling, Chief Executive of the Yorkshire Building Society, who has followed a comparable professional trajectory through Cambridge, P & G, and HSBC
External links
- Openreach
- British Triathlon Trust
- August 2015 interview on the Today programme
- www.joegarner.co.uk