East-West United Bank Appoints New Board Member

Luxembourg-based East-West United Bank (EWUB) has announced the appointment of David Hagen as an independent member of the bank's Board of Directors.

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 modernisation 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 digitalisation of our bank and development of additional services”.

David Hagen has over 35 years of experience in the financial sector and ICT management. He has worked for several companies, including Cetrel (now Six Payment Service), PwC and BIL.

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

David Hagen has expressed his professional commitment participating in various European and worldwide expert groups, such as the fintech working group of the High Advisory Committee for Financial Markets (Haut Comité à la Place Financière), the IT Supervisors Group (ITSG) and the Basel Committee on Internet Financial Services. Currently, he is an Honorary President of the Information Security Association in Luxembourg (CLUSIL) after occupying the post of President for ten years.

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

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

In May 2020, David Hagen set up Hagen Advisory to provide consultancy services in his area of expertise and to act as Independent Director.