Board of Directors

Board of Directors

Jeannot KreckeChairman of the Board, Independent Director
Biography: Jeannot Krecke

After being a member of the Luxembourg Parliament for 15 years and as a result of the June 2004 legislative elections, Jeannot Krecké was appointed Minister of Economy and Foreign Trade as well as Minister of Sport of the Grand Duchy. In this role Mr Krecké was responsible for guiding the country’s overall economic policy and competitiveness. Upon the renewal of the coalition government in June 2009, Jeannot Krecké maintained his role as Minister of Economy and Foreign Trade.

In July 2004 he was appointed to represent the Luxembourg government at the Council of Ministers of the European Union in the Internal Market, Energy and Industry sections of its Competitiveness configuration as well as in the Economic and Financial Affairs Council. He was also a member of the Eurogroup from July 2004 to June 2009.

In February 2012 Mr Krecké became the CEO of Key International Strategy Services, an economic advisory firm he founded soon after retiring from his role as Minister of the Economy and Foreign Trade, deciding to end his active political career in order to pursue a range of different projects in private business.

Jeannot Krecké currently serves on the Board of Directors of following companies:

ArcelorMittal SA - since February 2010 Calzedonia Finanziara S.A. - since September 2012 PJSFC Sistema – since June 2012 China Construction Bank Europe- since October 2013 Novenergia Holding Company S.A. – since April 2013 Jan De Nul, Sofidra S.A. – since February 2014

Mr Krecké wrote several books on personal taxation in Luxembourg as well as a book on the control functions of the Luxembourg Parliament. He also produced a report on tax fraud in 1997. His expertise further earned him external consulting roles with consulting firms Mazars (1994-1999), Arthur Andersen (1999-2003), Ernst & Young (2003-2004) and Genii Capital (2012 – 2015).

Since 2013 Jeannot Krecké is a Member of the Board of East-West United Bank. In 2015 he was appointed Chairman of the Board of Directors. Mr Krecké is also a Chairman of EWUB Risk Committee and a Member of Nomination, Remuneration and Corporate Governance Committees.

Natalia EvtushenkovaMember of the Board
Biography: Natalia Evtushenkova

In 1973 Natalia Evtushenkova graduated from the Mendeleyev University of Chemical Technology in Russia with an Engineer’s degree in Chemistry and Technology of Macromolecular Compounds. In 1996 Natalia Evtushenkova successfully completed the course: "The organization of internal control in commercial banks" and "Internal audit" in the Moscow Finance and Banking School. From 2008 to 2013 Mrs. Evtushenkova finished courses at the following institutions: Banking Institute of Russian Banking Association, Business School Consultant, course “Actual aspects of legislation for credit institutions on counteracting AML for crime and terrorist financing purposes” in Financial Centre “New Parity”.

Natalia Evtushenkova is a member of the Board of Directors of JSC MTS Bank.

Since 2008 Natalia Evtushenkova has been a Member of the Board of Directors in East-West United Bank. Mrs Evtushenkova is also the Chairwoman of Nomination, Remuneration and Corporate Governance Committee.

Marjorie Brabet-FrielMember of the Board
Biography: Marjorie Brabet-Friel

Since 2009, Ms Brabet-Friel has been working within the PJSFC Sistema organisation – including in her current role of CEO of the SCP (Sistema Capital Partners Group) –overseeing the investments of institutional Russian and Western companies in Russia and abroad. She also manages Arista SICAV-SIF, a Luxembourg-regulated real estate fund investing in Moscow commercial real estate.

Ms. Brabet-Friel was previously responsible for the USD 1.5 billion portfolio of Sistema’s listed property company, Sistema-Hals, overseeing investments, asset sales, development and strategic asset management issues.

Previously, Ms. Brabet-Friel practiced M&A law, working for US law firm, Skadden, in New York and Paris. She is a graduate of Harvard Law School and also holds a master’s degree from the Pantheon-Sorbonne (Paris). Ms. Brabet-Friel is admitted to practice law in New York and Paris.

The Commission de Surveillance du Secteur Financier (CSSF) approved the appointment of Ms. Brabet-Friel on 15 November 2021. As a board member, Marjorie Brabet-Friel will represent the interests of shareholders and and enrich the Board’s expertise with her international experience in the field of investment products, in particular in private equity, as well as with her strong legal knowledge.

Hans-Ulrich HügliMember of the Board,
Independent Director (Interim Authorized Manager)
Biography: Hans-Ulrich Hügli

Hans-Ulrich Hügli went to school in France and in Germany. In 1975 Mr Hügli graduated from the University of Zurich with specialization in jurisprudence. In 2001 he completed the Advanced Management Program of the Harvard Business School.

After training as a Legal Secretary at the District Court of Zurich, Hans-Ulrich Hügli joined the International Loan Department of Bank Leu in Zurich in 1979. From 1985 to 1989 he worked as Vice President at the Capital Markets department of J.P. Morgan in Zurich, and later he continued his career with the bank’s branches in Tokyo and Hong Kong. In 1993 Mr Hügli returned to Europe and became Managing Director of Banque Leu in Luxembourg. From 1997 until his retirement in 2012 Hans-Ulrich Hügli was CEO and Country Manager of Credit Suisse in Luxembourg.

Hans-Ulrich Hügli currently serves on the Board of Directors of following organisations:

Vodafone Investments Luxembourg Tareno Luxembourg

From 2013 Hans-Ulrich Hügli is an Independent director on the Board of Directors of East-West United Bank. Mr Hügli is also a Chairman of EWUB Audit Committee and a Member of Risk Committee.

Robert SchausMember of the Board,
Independent Director
Biography: Robert Schaus

On 28th May 2018, the shareholders of East-West United Bank S.A. have appointed Mr Robert Schaus as an independent director on the Board of Directors. Mr Schaus holds a Master in Business Administration from the HSG in St.Gall and a Master in Mechanical Engineering from the ETH in Zurich. He has over 30 years of international business experience in leadership positions and top-tier management consulting roles across European and CIS countries.

Mr Schaus started his career in engineering in Switzerland, then joined Bain & Company Germany in 1990 and became a partner and a co-founder of some of its European offices. In 2003 Mr Schaus set up Spector, Sachs & Company in Ukraine – a management consulting and financial advisory firm, and in 2007 rejoined Bain with the company’s team. During his time with Bain, Mr Schaus contributed to building its presence in Russia from scratch to number two, overtaking numerous competitors.

Mr Schaus is an expert on strategy and organisation topics, and has led projects for multinationals and private equity portfolio companies. He has worked in a broad range of retail and consumer sectors as well as in financial services, where he supported a top five European bank in its integration of a major acquisition and in the expansion of its consumer business. He also advised Governments (in particular, he led a project leading to the privatisation of over 5000 companies and 12 million jobs in Ukraine).

Since returning to Luxembourg in 2014, he has been involved in private equity and M&A projects for the private and the public sector. Mr Schaus is currently the CEO of Presta Group (Kleinbettingen, Luxembourg), a set of companies active in the energy sector.

David HagenMember of the Board, Independent Director
Biography: David Hagen

Mr. Hagen has over 35 years of experience in the financial sector and ICT management. His career includes such companies as Cetrel (currently Six Payment Service), PWC and BIL.

In 1999, Mr. Hagen joined the CSSF, Luxembourg Financial regulator, to set up the supervision of the information systems of the administered entities. Mr. Hagen stayed with the regulator for 20 years; he was also in charge of the CSSF’s internal IT for 6 years.

Mr. Hagen has expressed his professional commitment participating in various European and worldwide expert groups. For example, FinTech working group of the High Advisory Committee for Financial Markets [Haut Comité à la Place Financière], Basel Committee on Banking Supervision and IT Supervisors Group (ITSG) which brings together the heads of information systems oversight of the various banking regulators around the world. Currently David Hagen is an Honorary President of the major Information Security Association in Luxembourg (CLUSIL) after occupying the post of the President for 10 years.

In 2017, David Hagen received the "Lifetime Career" award from the Luxembourg ICT community in recognition of his commitment to the Luxembourg ICT sector.

Other prominent activities of Mr. Hagen includes his position as a lecturer at the University of Luxembourg at the Master in Information Systems Security. He also worked as a trainer, providing training on IT supervision to foreign authorities in various international central banks.

In May 2020, Mr. Hagen set up Hagen Advisory to provide consultancy services in his area of expertise and to act as independent director.

Mr. David Hagen has been approved by the Commission de Surveillance du Secteur Financier (CSSF) as an independent director and took up his duties on 28 June 2021. As an independent director, Mr. Hagen will oversee the bank’s most important strategic technology and information security initiatives.

Andrey KolokolnikovMember of the Board
Biography: Andrey Kolokolnikov

Andrey Kolokolnikov started his career in 2006 at Moscow office of AT Kearney, an international management consulting firm, where he specialized on projects in real estate and telecommunications.

From 2007 until 2020 Andrey worked in Morgan Stanley. He made his way up from analyst to Executive Director of Morgan Stanley Real Estate European Investing team. Andrey has been involved in real estate transactions including commercial, residential and industrial projects and developments primarily in Russia, CEE, UK, and Germany. He actively participated in various fund activities including origination, execution, structuring, financing, management, disposal and restructuring of investments.

In March 2021 Andrey Kolokolnikov joined PJSFC Sistema and currently holds the position of a managing partner.

Andrey Kolokolnikov has Master’s degree in economics. He speaks 6 foreign languages.

The Commission de Surveillance du Secteur Financier (CSSF) approved the appointment of Andrey Kolokolnikov on 10 September 2021. As a board member, Mr. Kolokolnikov will represent the interests of shareholders and oversee the bank’s most important strategic development.

Board Committees

Only members of the Board of Directors may be elected to a Board Committee. Members of the Board of Directors may form Board Committees to provide assistance to the Board of Directors in preparation and adoption of decisions in the respective functional areas, as well as in ensure a detailed scrutiny of the issues submitted for consideration to the Board of Directors.

The Board of Directors is assisted in its activities by the following committees established at the Board of Directors level:

 

Strategy Committee

The Strategy Committee has been established as a body of the BoD to discuss and analyze, when commissioned by the BoD or on its own initiative, issues of strategic development of the Bank, give recommendations to the BoD, provisionally approve strategic transactions, projects related to entering new markets and public and private partnerships, and to monitor the strategic management cycles of the Bank.

The areas falling under the responsibility of the Strategy Committee include:

  • Preliminary approval of the Bank's strategy and goals;
  • Consideration of M&A transactions and large investment projects of the Bank;
  • Consideration of projects related to entering new markets;
  • Consideration of other non-standard deals/transactions when commissioned by the BoD or upon the Committee’s own initiative.

Thus, the scope of activity of the Strategy Committee in relation to the areas defined above includes approval in principle of the concept and goals of projects and transactions, assessment of project risks, project prioritization, consideration of project funding sources, review of project progress.

 

Audit Committee

The Committee conducts a detailed discussion and analysis of the issues related to managing EWUB in the following areas:

  • Independent auditor relationship (internal and external audit);
  • Preparing and auditing financial statements of EWUB and monitoring these processes;
  • Financial reporting processes, accounting policies, and internal control;
  • Whistleblowing system for reporting potential cases of wrongdoing;
  • Follow up on litigations;
  • Monitoring of Compliance issues.

Risk Committee

The areas falling under the responsibility of the Risk Committee include:

  • Reporting to the BoD regarding the risk profile of the Bank;
  • Review of the risk appetite statement;
  • Review of the risk appetite usage against thresholds set;
  • Review and approval of the key risk policies;
  • Evaluation of the adequacy of the risk management function;
  • Review and validation of the Recovery Plan of the bank;
  • Deciding on credit proposals which are outside the authority of the credit committee.

Nomination, Remuneration and Corporate Governance Committee

The role of the Nomination, Remuneration and Corporate Governance Committee includes:

  • Preparing recommendations to the control functions in setting the overarching principles and parameters of the Remuneration Policy;
  • Preparing any matter pertaining to the remuneration schemes of the Bank;
  • Overseeing the central and independent review of the Remuneration Policies and practices;
  • Preparing recommendations to the Board of Directors regarding the remuneration of all staff members;
  • Overseeing the remuneration of the Authorized management, other members of the Management committee and the Managers in charge of the control functions;
  • Validating changes to senior executive incentive plans;
  • Reviewing and validating employee share and similar schemes;
  • Ensuring that the remuneration system properly takes into account all types of risks, liquidity and capital levels as well as ensuring that the overall remuneration policy is consistent with the long-term and prudent management of the Bank.

 

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