East-West United Bank appoints a new member of the Board of Directors
East-West United Bank (EWUB) announces the appointment of Mr. David Hagen as an independent member of the bank's Board of Directors.
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.
Commenting on the appointment of Mr. Hagen, Sergey Pchelintsev, EWUB CEO/Managing Director, noted:
“As an actively developing bank, we pay a lot of attention to modernization of the processes and infrastructure. We welcome the appearance of such a professional as Mr. Hagen on our Board of Directors. David Hagen’s in-depth expertise in the field of IT and financial regulations will help with the further digitalization of our bank and development of additional services”.
About 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.