July 14, 2014 / 10:23 AM / 3 years ago

UK payday lender Wonga appoints Haste as chairman

LONDON, July 14 (Reuters) - Britain’s biggest payday lender Wonga said former RSA Insurance Group chief executive Andy Haste had joined as chairman and pledged to push through changes at the company.

Wonga and other short-term loan providers have come under fire in Britain for the high level of interest rates they charge. Wonga’s co-founder and chief executive Errol Damelin became chairman in November and he left the board in June.

Haste said on Monday the payday loan industry was going through necessary significant change and said Wonga “will change with it in order to have a sustainable future.” (Reporting by Steve Slater; Editing by Matt Scuffham)

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