Queensland-based investment management firm Dalton Nicol Reid names a former JBWere executive as successor to Harley Dalton, who announced his resignation in January.

Dalton Nicol Reid, the Australian investment management firm, has named a new head of distribution and chief executive following the resignation of its co-founder in January 2014.

Robert White joins the company from JBWere Private Wealth Management, where he was head of advice. Prior to that, he was joint managing director and CEO for HFA Asset Management, now called Certitude Global Investments. 

Effective 24 March 2014, White takes over from Justine Hickey, chairman of the firm's corporate advisory committee, who has assumed the role as acting CEO since Harley Dalton, the co-founder, resigned from his post after 12 years in the role. 

According to Jamie Nicol Dalton, chief investment officer, Harley Dalton will stay on as a consultant for the next six months and that the investment team will buy out his shares over a three year period.

Dalton Nicol Reid, founded in 2001, has some A$850 million ($772 million) in funds under management.