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(Adds JD.com's updated statement)
By Julie Zhu and Yingzhi Yang
HONG KONG/BEIJING, Sept 11 (Reuters) - China'ssecond-largest e-commerce firm JD.com Inc has appointedJason Hu, a former managing director at Chinese private equityfirm CDH Investments, as head of strategic investment to overseedeals both at home and overseas.
Hu, who joined the company in late July, was also named vicepresident reporting directly to Chief Strategy Officer Jon Liao.
Filling the newly created role will beef up JD.com'sinvestment arm which has long been dwarfed by in-house dealteams at bigger rival Alibaba Group Holding Ltd as wellas tech peer Tencent Holdings Ltd.
JD.com has been seeking to diversify its business to dealwith slowing growth in China's broader e-commerce sector byventuring into areas such as offline stores, and investing inartificial intelligence to improve logistics and advertisingcapabilities.
The Beijing-based e-commerce firm has made about 50investments at home and overseas over the past five years,showed data from Refinitiv.
High-profile deals include a minority stake in London-basedretailer Farfetch Ltd, and investments in Chineseluxury e-commerce platform Secoo Holding Ltd andapparel retailer Vipshop Holdings Ltd.
Prior to joining JD.com, Hu, who began his career as aconsultant with Bain & Company, held senior roles in investmentmanagement at PE firms CDH and Cathay Capital. At CDH, he wasinvolved in investments in domestic couriers Deppon Logistics CoLtd and Yimidida, and footwear retailer BelleInternational.
A spokesman at JD.com said Hu's appointment "furtherstrengthens the company's deep bench of investment and strategyleadership for continued growth".
Reuters reported Hu's role earlier on Wednesday citingsources. The spokesman later confirmed that Hu had beenappointed as head of strategic investment.
JD.com International's president, Winston Cheng, who wasresponsible for the company's overseas business includinginvestments, left JD.com in September last year.
Vice President Chang Bin, who mainly oversaw the company'sdomestic investments, took up a new role in September last yearto lead JD.com's own-brand business, in particular "Made by JD"or Jing Zao in Chinese.
Made by JD launched early last year offering householdbasics as varied as hair dryers and suitcases, with the goal ofcompeting with manufacturers that sell products through thecountry's e-commerce platforms.
CSO Liao had been overseeing strategic investments untilHu's arrival, said a person with direct knowledge of the matter,who was not authorised to speak to the media and so declined tobe identified.
The appointment comes after a troubled time for JD.com.Chief Executive Richard Liu was accused of rape last year in theUnited States, with investigations ending in December withoutcharge. He denied wrongdoing.
The company also laid off staff earlier this year amidslowing e-commerce growth, though analysts regarded itscost-cutting measures as a reason behind better-than-expectedsecond-quarter earnings.
(Reporting by Julie Zhu and Yingzhi Yang; Editing byChristopher Cushing)
