London-based independent wealth manager Plurimi Wealth has appointed a new deputy chief executive.

As part of a succession plan the firm has promoted Fahad Khan to the position, with the aim of him becoming CEO in the “medium term.”

Mr Khan, who joined the firm in 2013, was previously a senior partner.

The firm says Mr Khan “will focus on building the business organically, and expanding into new markets, driven by technology shifts, changing high net worth consumer trends, and regulatory developments.”

Prior to joining Plurimi, Mr Khan was an executive director at Morgan Stanley Wealth Management, where he focused on servicing the Nordic and CIS market.

He will now work alongside Ramzy Rasamny, Plurimi’s founder, chief executive and chairman of the board.

When Mr Khan becomes chief executive it is envisaged Mr Rasamny will focus on the firm’s international expansion, starting with Plurimi’s Dubai operations.

Most recently Toscafund Asset Management have agreed to acquire a “significant” minority stake in Plurimi.

The first such investment in its newly established Tosca Private Investment Fund.

Mr Rasamny said: “I am delighted that Fahad has agreed to take on this new challenge.

“With his breadth of experience and expertise in the wealth management industry, Fahad is perfectly placed to lead the company into its next phase of growth as a truly pan-European wealth management platform.”

Mr Khan said: “I am thrilled to take on this new position.

“It is a very exciting time to be in the wealth management space.

“Changing demographics, regulation and market dynamics require a new breed of firm to help clients navigate their long term financial needs.

“I look forward to leading the firm in its next stage of growth, and to work with our new partners at Toscafund to build on our collective vision as one of the leading independent wealth management firms in Europe.”