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Payday lender Wonga South Africa hires new CEO

Web-based payday loan provider Wonga South Africa base has hired former Lewis Group credit risk director, Brett van Aswegen as their new company CEO. The decision to hire a new CEO came in the wake of Kevin Hurwitz’s resignation following the quieter departures of Errol Damelin and Jonty Hurwitz. Aswegen steps into the fold at a crucial period for the business, after it came under fire from regulators in South Africa, Britain and other counties. As Wonga had to write off a lot of their customer’s debts, changes in management are to be expected and Brett will certainly be hoping he can make a real difference.

There is no doubt that he’ll have plenty to do in his initial months or even years at the company, as Wonga is a massive business and one of the best-know payday lenders on the planet, and the number #1 lender in many countries. Mark Ruddock, International MD for Wonga said the following on van Aswegen’s appointment, “After an extensive search, we’re pleased to secure someone of Van Aswegen’s strong calibre to lead our South African arm of the business”.

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Brett began the job at approximately May time in 2015. A skim read of his LinkedIn page can give us some information on his character, experience and employment history. He has been in the professional world for two decades, starting his business career in the credit division of Edcon Group in 1994. He then joined their retail banking team, and five years later moved companies and was hired by furniture retailers Lewis Group where he remained for over 12 years. He joined the company’s board in 2006, after transforming their credit operations by implementing credit systems, risk models, and direct marketing strategies. “During his tenure at the company he implemented credit systems, risk models and direct marketing strategies to make Lewis the first furniture retailer in South Africa to offer customer-level revolving credit facilities,” Wonga said of his abilities and reasons for hiring him.

Originally posted 2015-09-02 14:44:03. Republished by Blog Post Promoter