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Wonga Group announces management changes

Wonga, the international digital finance group, today announces management changes reflecting the ongoing expansion of the business and preparing it for the next stage of growth.

Errol Damelin, Wonga’s co-founder and Chief Executive Officer since founding it in 2006, is stepping up to become Chairman after seven years of running the business day to day.

Niall Wass, Wonga’s Chief Operating Officer, becomes Group Chief Executive Officer. Niall joined Wonga in January 2012 and has led the core team responsible for the expansion into new products and international markets. He joined from Betfair, where he was Chief Commercial Officer, and was previously at Brait Private Equity and Accenture.

With Errol as incoming Chairman, Robin Klein, after seven years as Chairman,has agreed to remain as a Director and to assist with the transition. As CEO, Niall will also become a Director, and Wonga co-founder Jonty Hurwitz has announced his retirement from the board, in order to focus more of his time on new projects.

Errol said: “These changes will free up my time to focus on where Wonga should be heading in the next decade, as we continue to develop as an international digital finance business. I am delighted that Niall, who has already played an instrumental role as COO, has agreed to assume the CEO role and I will give him all my support.”

Niall said: “Wonga is a pioneer of modern money and a young company full of smart people. We now have more than a million customers, 90% of whom recommend our services, and we have only scratched the surface of what we want to achieve. I’m looking forward to leading a team that will continue our revolutionary approach to global financial services with absolute commitment to transparency and customer focus.”

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