Nationwide chair first major British lender boss to publicly engage with Reform UK

Nationwide building society has defended its chair, Kevin Parry, after he became the first boss of a major British lender to publicly engage with Nigel Farage’s Reform UK party.

It emerged on Wednesday that Parry, who has been chair of the member-owned building society since 2016, attended a breakfast event earlier this week meant to help companies understand Reform’s approach to business.

The breakfast event was hosted by Sanctuary Counsel, a consultancy focused on “building, enhancing and protecting” the reputation of clients, with Parry seated next to Reform’s deputy leader, Richard Tice.

It makes Parry the first senior boss from a UK bank or lender to be publicly seen with the party, which has outlined controversial policies including the mass deportation of asylum seekers, ripping up green energy contracts and stripping the City watchdog of its power to regulate the banking industry.

The building society, which is owned by its 17 million members, defended Parry’s attendance – which was first reported by the Financial Times – saying it was part of “routine” engagement with parties across the political spectrum.

A Nationwide spokesperson said: “As part of his role, our chairman meets with representatives from across the political spectrum. These engagements are routine and reflect our commitment to constructive dialogue on issues that matter to our members and the wider sector.”

Business leaders have been closely watching Reform after its sweeping local election victories this year and as opinion polls suggest it could win hundreds of seats at a general election. But while Reform said it had welcomed hundreds of businesses to its annal conference in Birmingham earlier this month, most groups sent junior staff, with bosses still concerned about being associated with the rightwing party.

All of the UK’s “big five” trade bodies – including the CBI, British Chambers of Commerce and Federation of Small Businesses – dispatched public affairs executives to the conference.

Heathrow sponsored an airport-style lounge for business delegates and First Group provided double-decker buses for meetings. JCB, the digger-maker owned by Lord Bamford, the billionaire former Conservative donor who is now backing Reform, was also an exhibitor, and other corporate attenders included Airbnb and Japan Tobacco International.

TikTok sponsored a drinks reception where Reform councillors and the party’s newest MP, Sarah Pochin, rubbed shoulders with corporate lobbyists over complimentary canapés, pints and cocktails.

However, companies are also treating the party with caution. One corporate affairs boss, who stayed away from the Reform conference, told the Guardian at the time: “Everyone feels awkward, no one wants to be called out as being there.”