Former StepChange Debt Charity director joins Wonga

10 Mar 2014 News

Delroy Corinaldi, former director of external affairs at StepChange Debt Charity, has joined Wonga as its public affairs chief.

Delroy Corinaldi, former director of external affairs at StepChange Debt Charity, has joined Wonga as its public affairs chief.

Corinaldi worked for StepChange for four years. He left the charity seven months ago. On his departure he said: “I will always be passionate about the importance of achieving a society free from problem debt.”

He has this month joined Wonga as its new public affairs head. A Wonga spokesman says: “At this key time for our business, which under a new chief executive officer is preparing for the transfer of consumer credit to the FCA, we are keen to ensure that the voice of our customers is made clear while engaging proactively with the wider community.

“Delroy’s extensive knowledge of personal finance and debt issues together with his passion for the consumer will be invaluable. Delroy will head up a team of three and report into Henry Raine, our head of UK regulatory.”

Corinaldi founded the Financial Inclusion Centre, a not-for-profit company limited by guarantee, where he is still a trustee.

During Corinaldi’s tenure at StepChange, the charity was a vocal critic of Wonga. It called Wonga “cynical” over a marketing campaign aimed at students.

Also, StepChange chairman and Labour peer Lord Stevenson helped push through regulation of Wonga in the Financial Services Act 2012. The FCA will regulate payday lenders from April and has mooted the possibility of imposing an interest rate cap.

StepChange declined to comment on Corinaldi’s new role.

In recent years, two of the country's largest charity investors have faced controversy over holdings in Wonga. 

The Wellcome Trust faced criticism for its stake in Wonga, which it has since sold. And the Church of England came under fire for indirectly investing in Wonga, after the Archbishop of Canterbury vowed to "force it out of existence".