The new chairman of payday lender Wonga has pledged "significant change" after the firm "made mistakes" in sending out letters from fake lawyers to customers in arrears.
ITV News Business Editor Joel Hills confirmed the appointment, tweeting:
Wonga appoints former boss of RSA as new Chairman. Andy Haste says he has mandate for "significant change" and that Wonga "made mistakes".
Andy Haste says he was approached by Greylock - one of Wonga's shareholders - before fake law firm letters made public.
Andy Haste warns that the changes necessary to win full FCA authorisation will make Wonga "a smaller and less profitable business".
More top news
David Cameron has announced plans for 18 more free schools and vowed to continue to open hundreds more in the next five years.
Great British Bake Off star Sue Perkins reveals she's been living with a brain tumour for eight years.
After a day where thousands of migrants tried to make their way to Germany, tonight they are sleeping on Budapest's streets.