Embattled payday lender Wonga is set to get a new UK boss according to Sky News.
The lender is to appoint Tommy Jordan, its commercial boss, as UK CEO while current boss Tara Kneafsey becomes chief executive of the overall group.
Wonga declined to comment on Mr Jordan’s appointment.
The news comes as Wonga struggles with regulatory costs and hopes to return to profit by next year.
Wonga’s losses stood at £120m in the last two years following a volley of scandals.