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Wonga Group appoints UK Managing Director

Wonga Group is pleased to announce the appointment of Tara Kneafsey as Managing Director of its UK consumer loans business.

Tara will be responsible for all elements of Wonga’s UK business and will be working alongside Group Chairman Andy Haste to deliver the six key priorities he set out on joining the company in July. These include reviewing Wonga’s customer base to ensure that the business lends only to customers who can reasonably afford to repay their loans, re-presenting Wonga to the public, especially through its advertising, and building a sustainable business with superior technology and operating processes.

She has extensive experience in the financial services industry both in the UK and internationally, including eight years at RSA Insurance Group. Most recently she led its UK small business division, driving transformational change to the operating model while also returning the business to profit. Before that she was CEO of its Latvian arm where she successfully led the business through the tough market conditions it faced following the 2008 financial crisis.

Tara said: “I am pleased to be joining Wonga at such a pivotal time for its UK business. There is undoubtedly a genuine demand for short-term credit, a demand which Wonga originally met through a combination of innovation and flexibility. However it is clear the business needs to evolve significantly to become an accepted part of the financial services landscape”.

Commenting on Tara’s appointment, Andy Haste said: “Tara has a strong customer focus, a wealth of experience in financial services and a proven record in putting businesses on the right track. She will be instrumental in returning Wonga to its original vision - providing short-term loans to the right customers in a responsible and transparent way.

“Her appointment marks a major step in the changes we are making to the Group.”

Tara will start her new role later this year.

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