How to move a contact from one account to another?

How to move a contact from one account to another?

Eg: I have a Contact named Mustafa who was working with a Company named Veritis. This Company became our paid customer because of him. He has now moved on to another Company Employ. I would also like to associate him with this new Company (not loosing the data for previous Company). Can he be associated to 2 companies with mention of Past company & Current company?