Carl held numerous supervisory board mandates and was a member of the Jewish aid association Gesellschaft der Freunde (Society of Friends).

He carried the title of Privy Councilor of Commerce and in 1898 received the Order of the Red Eagle, 4th class.

These included the paintings The House at Rueil (1882) by Édouard Manet and Children's Afternoon at Wargemont by Pierre-Auguste Renoir, both of which he financed in 1906.

"[1] After 1933, the family faced persection by the German National Socialist government because of their Jewish heritage.

Carl and Louis Hagen were expelled from advisory boards and the bank’s business shrank due to persecution.

The family was forced to sell the villa in Berlin-Tiergarten in 1938 to Berliner-Kindl-Schultheiss-Brauerei, which then made major changes to the building.

[citation needed] Carl's son Hermann Hagen was murdered in Sachsenhausen concentration camp in 1942.