COMPANIES & STRATEGIES - FINANCE & LEGAL

Appointment

David Hagen joins East-West United Bank



David Hagen is a recognised specialist in financial information systems. Photo: Marc Blasius / Maison Moderne archives

David Hagen is a recognised specialist in financial information systems. Photo: Marc Blasius / Maison Moderne archives

The former head of supervision of support PSFs at the CSSF has joined the board of East-West United Bank as an independent director.

David HagenDavid Hagen has more than 35 years’ experience in the financial sector and ICT management. He is best known in the financial sector for having been the director of the supervision of support PSFs at the Luxembourg’s financial watchdog, the Commission de Surveillance du Secteur Financier (CSSF). He was also in charge of the financial regulator’s internal IT department for six years. Hagen joined the CSSF in 1999 to set up the supervision of the information systems of administered entities. He left the CSSF in April 2020 and founded his own consultancy company, Hagen Advisory, to provide consultancy services in his field of expertise and to act as an independent director.

During his career he has participated in various European and global expert groups such as the FinTech Working Group of the High Level Committee on the Financial Market; the IT Supervisors Group (ITSG), which brings together the heads of IT supervision from the world’s leading countries; and the Basel Committee on Internet Financial Services. He is currently honorary president of the main IT security association in Luxembourg (CLUSIL) after having served as its president from 1999 to 2009. He has also taught at the University of Luxembourg as a lecturer in the master of information systems security programme. He has also worked as a trainer, providing training on IT supervision to foreign authorities at various international central banks.

Commenting on David Hagen's appointment, Sergey PchelintsevSergey Pchelintsev, the bank’s managing director said: “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.”

This article was originally published in Paperjam. It has been translated and edited for Delano.