If a contact is moved to a new account the following happens.
The contact data on the account you move away from will be deleted
- All standard data except first name and last name (Phone, Email, titel etc.)
- Custom field data
The reason some data is saved is to get version handling on account level. In Salesbox its possible to see the contact name on old/historic tasks, leads, opportunities but open the contact card. All activity and sales stats are also kept to not affect and stats.
On the new account the contact get moved to, a new fresh contact is added. Its also this one that gets displayed in all lists.