THE Place Holdings on Wednesday appointed a new chief strategy officer (CSO), who will be responsible for assisting the executive chairman with strategic planning, growth strategy and capital planning of the group.

Zhang Wei, 39, will take the place of Leow Soon Guan, who ceased to be the CSO of the company last year.

Mr Zhang graduated from Tsinghua University with a bachelor of engineering physics and holds an MBA from the China University of Political Science and Law. He previously served as vice-general manager of Beijing Quandaxingye Investment Management Co between 2013 and 2016; between September 2016 and April 2018, he was executive director of Place Holdings.

He is also currently director of Place Holdings' subsidiaries The Place Yuntai Investment, Sky Vision Investment and New Vision Holding.

Shares of Place Holdings ended Wednesday at 7 Singapore cents, up half a cent or 7.7 per cent.