Jack Liu
EAST WEST BANCORPAbout Jack C. Liu
Independent director of East West Bancorp, Inc. since 1998 (age 66), Jack C. Liu is a senior attorney at Alliance International Law Offices with deep expertise in U.S. banking regulation, international corporate, investment, and real estate matters; he holds law degrees from the University of Chicago (MCL) and the University of Pennsylvania (LL.M.) and is admitted in California, Washington, D.C., and Taiwan as a foreign attorney . He currently chairs EWBC’s Compensation and Management Development Committee and serves on the Nominating/Corporate Governance and Risk Oversight Committees; he is designated independent under Nasdaq rules and is an NACD Board Leadership Fellow and certified professional insurance executive by Taiwan’s FSC .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Alliance International Law Offices | Senior Attorney | 2010–Present | Advises on international corporate, investment, and real estate matters; recognized expertise in U.S. banking regulation |
| Morgan Stanley International Real Estate Fund (MSREF) / New Recovery Asset Management Corp. | Senior Advisor (MSREF); President (affiliate) | Prior to 2010 | Executive leadership and real estate investment advisory roles |
External Roles
| Organization | Role | Tenure | Notes / Interlocks |
|---|---|---|---|
| Taishin Life Insurance Co., Ltd. (Taiwan) | Director | Current | Non‑U.S. insurance board; confirms current directorship; potential cross‑border network, but no related‑party transactions disclosed at EWBC |
| Taipei Independent Directors Association | Vice Chairman | Current | Governance leadership role in Taiwan |
| NACD | Board Leadership Fellow | Current | U.S. governance credential |
Board Governance
- Independence: Board determined all directors except the CEO are independent under Nasdaq standards; Liu is independent and serves on fully independent key committees (Audit, Compensation, Nominating/Corporate Governance are independent committees) .
- Committee assignments: Compensation (Chair); Nominating/Corporate Governance; Risk Oversight .
- Attendance and engagement: In 2024, the Board held four regular meetings plus a multi‑day retreat; all nominees (including Liu) attended all regular Board and their committee meetings .
- Committee activity levels in 2024: Compensation (5 meetings), Risk Oversight (4), Nominating/Corporate Governance (2), Audit (9) .
- Risk oversight: The Risk Oversight Committee provides focused oversight of enterprise risks, including credit, capital, liquidity, IT/cyber, and compliance; Liu is a member .
- Shareholder alignment and policies: Stock ownership guidelines; prohibition on pledging/hedging; related‑party transactions policy administered by the Audit Committee .
- Say‑on‑pay context: 98.7% approval of 2023 executive compensation at the 2024 annual meeting, indicating broad investor support for pay practices overseen by the Compensation Committee chaired by Liu .
Fixed Compensation (Director)
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual cash retainer (2024 program) | 133,750 | Standard non‑employee director cash retainer |
| Committee chair fee (Compensation) | 27,500 | Annual chair retainer for Compensation Committee |
| Cash fees actually paid to Liu (CY2024) | 161,268 | Reflects retainer plus chair fee as reported |
Performance Compensation (Director Equity)
| Grant | Shares | Grant-Date Value (USD) | Pricing Basis | Notes |
|---|---|---|---|---|
| Annual director stock award (5/28/2024) | 1,818 | 133,732 | Close price $73.56 on grant date | Common stock grant (not performance‑based); per‑director valuation |
- Program design for 2024: Non‑employee directors receive an annual cash retainer of $133,750 and an annual equity grant valued at $133,750; committee chair retainers include $27,500 for Compensation (Liu’s role) .
- Trend vs. prior cycle: Committee chair retainers increased from $25,000 (2022) to $27,500 (2024); annual retainers increased from $130,000 cash + $130,000 stock (2022) to $133,750 + $133,750 (2024), reflecting periodic market review by Meridian Compensation Partners .
Other Directorships & Interlocks
| Company | Listing | Role | Potential Interlock Considerations |
|---|---|---|---|
| Taishin Life Insurance Co., Ltd. (Taiwan) | Non‑U.S. | Director | No EWBC related‑party transactions reported in 2024; standard RPT policy applies |
| Public company memberships among EWBC directors (as context) | U.S. | Not applicable to Liu; others include MAT, GVA, CTSH, OMCC, MNKD, HGTY | Proxy lists U.S. public directorships for other directors; Liu not listed among those with U.S. public boards as of filing |
Expertise & Qualifications
- Regulatory and governance credentials: NACD Board Leadership Fellow; Vice Chairman, Taipei Independent Directors Association; certified professional insurance executive (Taiwan FSC) .
- Legal and cross‑border expertise: Admitted to practice in CA, DC, and Taiwan; experience bridging U.S.–Asia financial markets; recognized expertise in banking regulatory matters .
- Committee leadership: Chairs Compensation Committee; committee uses independent consultant (Meridian) and performs annual risk review of compensation programs .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Jack C. Liu | 14,557 | <1% | Beneficial ownership table as of April 3, 2025; excludes unvested RSUs; none expected to vest within 60 days |
| Shares outstanding reference | 137,801,455 | — | Shares outstanding on record date for 2025 annual meeting |
- Ownership alignment: Director stock ownership guideline is 3x annual cash retainer, to be met within five years of election; company prohibits hedging/pledging by directors .
Governance Assessment
-
Positives
- Independent director with strong cross‑border regulatory and legal expertise; long service provides institutional knowledge; 100% attendance in 2024 .
- Chairs an independent Compensation Committee that engages an independent consultant (Meridian) and conducts annual risk reviews; 2024 say‑on‑pay passed with 98.7% support, signaling investor confidence in pay oversight .
- No related‑party transactions requiring approval in 2024; strict no‑pledging/hedging policy; director ownership guidelines in place .
-
Watch items
- Tenure since 1998 may prompt some investors’ board refreshment scrutiny, balanced against committee leadership and high attendance .
- External directorship at Taishin Life (Taiwan) presents potential for cross‑border relationships; however, EWBC disclosed no related‑party transactions in 2024 and applies a robust RPT policy overseen by the Audit Committee .