(Yicai Global) June 19 -- Alibaba Group Holding has expanded the role of its chief financial officer to also oversee strategic investments unit in order to hone the tech behemoth's portfolio. 

Maggie Wu will take over investment responsibilities from Executive Vice-Chairman Joe Tsai who will support Wu in her expanded role, the Hangzhou-based tech giant said on its WeChat account. Wu is one of the 13 women partners out of 38 in total in the company. 

Tsai, who is considered as Executive Chairman Jack Ma's right arm, will continue as executive vice-chairman. 

Wu joined Alibaba in 2013, and she has worked as an executive in 67 firms related to the company, according to corporate registration data. She indirectly holds shares in the firm's fintech arm Ant Financial Services Group via Junao Equity Investment Partnership. Before Alibaba, she was the first Chinese auditing partner at KPMG.

Wu is following in Tsai's footsteps as he stepped down as CFO to focus on investment strategy in 2013. Co-founder Tsai has been in a key position to secure investment for Alibaba from the beginning. 

Alibaba invested CNY505 billion (USD73.2 billion) from 2015 to last year and made over 27 percent in returns on investment at CNY138.7 billion, public data show.

Editor: Emmi Laine