The World Federation of Diamond Bourses (WFDB) expressed shock and deep sorrow, upon Freddy Hager WFDB Deputy Treasurer General and the President of the London Diamond Bourse sudden death at his London home this morning. Avi Paz, President of the WFDB had this to say about him, - "He was a friend, a mentor, a visionary and a person who worked tirelessly behind the scenes for the WFDB, his bourse's own members, his community, and of course for his family. He was a gentleman who was always absolutely frank and straight-forward. Our hearts go out to his wife Louise, his children and grandchildren."

Mr. Hager entered the diamond business in 1974 in London, and scored achievements like being elected to the Management Committee of London Diamond Bourse ( at the time was one of the two London-based WFDB-affiliated bourses) in 1980, in 1991 elected President of the London Diamond Bourse, 1994 overseeing the merger of the London Diamond Bourse and the London Diamond Club into a single body, elected to the WFDB's Executive Committee at the 29th World Diamond Congress in Antwerp in 2000, and has since served as Deputy Treasurer General and as Chairman of the WFDB's Trade and Promotions Committee.

He was a founder member of the World Diamond Council and is considered the spiritual father of the federation's better business symbol, the WFDB Mark. His commitments to communal work saw him active in this sector for almost four decades as lay leader of his London synagogue.