He will be responsible for brand strategy and driving customer experience for Nationwide’s members.
Boulton will take on the role in August and report to executive director Chris Rhodes who is responsible for group product and marketing.
Boulton resigned from his position at HSBC in February this year.
Shortly after his departure it was widely tipped that he would be appointed to the role of global marketing director for British Airways, but this turned out to be false speculation.
Boulton joined HSBC in 2005 and was responsible for the HSBC, First Direct and M&S Money brands.
He was poached from rival HBOS where he was head of customer and brand strategy.
He has also held senior marketing positions at PepsiCo Walkers Snack Foods and Unilever.