Prior to that, Mr. Liu was Senior Advisor for Morgan Stanley International Real Estate Fund (“MSREF”) and was President of MSREF’s affiliate New Recovery Asset Management Corp. Mr. Liu advises on business and legal aspects of international corporate, real estate, and banking matters. He currently serves on the board of TransGlobe Life Insurance, Inc., a privately held corporation based in Taiwan, and as an independent director of Taiwan FamilyMart Co. Ltd., which is a publicly listed company in Taiwan. Mr. Liu is also a Leadership Fellow with the National Association of Corporate Directors.