David Coe, the former chairman of the collapsed Allco Finance Group, has died while on a skiing trip at the popular mountain resort of Aspen in the United States.
Three friends and colleagues have confirmed to BusinessDay that Mr Coe, 58, had died of a suspected heart attack in Aspen, Colorado, within the last 24 hours.
Following the collapse of Allco in late 2008, Mr Coe had based himself in London but frequently made trips back to Sydney. He leaves behind his wife Michelle and three sons.
One of Sydney’s top chefs, Neil Perry, said the "world has lost a great citizen, a man with a brilliant family and I have lost one of my dearest friends and mentors".
The collapse of Allco was one of the most high-profile failures of a number of Australian companies during the global financial crisis.
Since the demise of Allco, Mr Coe had devoted considerable time to philanthropic pursuits.
He was a former chairman of Sydney’s Museum of Contemporary Art, and was also on the board of the Sydney Children’s Hospital Foundation and the National Gallery of Australia Foundation.
Simon Mordant, an investment banker and arts patron, described Mr Coe as a "true gentleman, a great friend and an extremely generous person".
"He is a wonderful family man who is going to be deeply missed by a great number of people both in Australia and internationally," he said.