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Welby: Wonga 'embarrassment'

The Archbishop of Canterbury has admitted he is "embarrassed" and "irritated" after learning the Church of England indirectly invests in online lender Wonga - the focus of Justin Welby's criticism over payday loans yesterday.

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Ex-oil executive Archbishop was on banking commission

  • The Most Rev Justin Welby read law and history at Trinity College, Cambridge and began his career in the oil industry based in Paris and London, where he worked on West African - mainly Nigerian - and North Sea projects.
  • He became a group treasurer in a company called Enterprise Oil, before resigning in 1987 after 11 years in the industry to train for the Anglican priesthood.
  • He has also served on the parliamentary Banking Standards Commission.

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