Meyado Private Wealth Singapore has named Mark Paine as its new managing director.

Mr Paine has circulated within the Meyado group of companies for the past 20 years; first as advisor when he joined the Frankfurt office in 1993 and then in several key posts in Prague, Madrid, London and Dubai. His most recent position was as managing partner for the Singapore office, which he assumed since 2007.

In his new role, he will responsible for further developing the Singapore operations, which at this time is enjoying massive growth as the city-state transforms into a key international wealth management hub.

"The shareholders are confident that Mark has the required experience and knowledge to run and grow the business in Singapore; Mark will bring an immense amount of energy and new ideas to the company and will undoubtedly grow the operations," said Martin Young, who previously ran the Singapore unit, in a statement.

Meyado provides independent Private Wealth Management advice to over 5,000 clients worldwide.  Originally founded in Frankfurt in 1993, the company is licensed by the Financial Services Authority in the United Kingdom and the Monetary Authority in Singapore. Global operations include Singapore, London, Frankfurt, Dubai, Sao Paolo and Madrid.