Four women CEOs in the financial services industry have been given senior awards in the King’s Birthday Honours List.

Debbie Crosbie, Nationwide chief executive, has been given a damehood for services to the financial sector.

Ruth Handcock, chief executive of Octopus Money, has been awarded an OBE for services to financial services and investments.

Michelle Scrimgeour, former chief executive, Legal and General Investment Management, has been handed a CBE for services to the asset management industry.

Tiina Lee, chief executive at Citi UK, has been awarded a CBE for services to the financial services sector.

Debbie Crosbie has worked in banking for more than 30 years, working at Clydesdale Bank before becoming chief executive of TSB bank in 2019. She became CEO of Nationwide in 2022 and led the building society’s £2.9bn acquisition of Virgin Money last year, which saw it become the UK’s second largest mortgages and savings provider.

She said: “I try to encourage people to think beyond ‘I’m a female’, but when it comes to this (honour) I am actually hugely proud. I grew up in Glasgow, I wasn’t different to any of my peer group, so to be given the opportunity to lead… I’ve had a massively rewarding career.

“As a woman, I hope that sends a message of opportunity and hope, not just to young people.”

Ruth Handcock, CEO of Octopus Money

Ruth Handcock became CEO of Octopus Money in 2023 after spending five years at CEO at Octopus Investments. She was a founding employee at challenger bank Tandem and is an independent non-executive director of Aldermore Bank.

She said: “I’m absolutely delighted to receive this honour. I’ve been incredibly lucky to have spent my career doing things that I care so deeply about and helping others where I can along the way. I’d like to thank all of the brilliant colleagues, mentors, friends and family who I’ve had the privilege of learning from throughout my career.”

Michelle Scrimgeour, former CEO at LGIM

Michelle Scrimgeour was CEO at LGIM from July 2019 to December 2024. Before then she was CEO, EMEA, at Columbia Threadneedle Investments. Earlier in her career she was chief risk officer at M&G Investments, which she joined in 2012 after a career at BlackRock.

She said: “I am thrilled to have been awarded a CBE in the King’s Birthday Honours, for services to the asset management industry. This is an unexpected honour which I will treasure. I am truly grateful to the many fabulous colleagues, clients, partners and mentors with whom I’ve had the privilege to work and whose collaboration, support and advice throughout my career have helped make this possible.”

Tiina Lee, CEO, Citi UK

Tiina Lee became Citi’s CEO in the UK on 16 October 2023. Before that she was CEO for the UK & Ireland at Deutsche Bank.

She began her career at Hill Samuel Bank and Lehman Brothers and through her 33 year career in investment banking she has run trading and capital markets businesses and served as head of UK strategy and chief operating officer for the UK.