Big names gather to remember good friend
A key figure in Sydney's tight-knit business establishment, the turnout of more than 1200 mourners on Tuesday for Mr Coe's memorial service in Sydney reinforced the point from one of his three sons that their father had "lived 10 lifetimes in his 58 years".
But it did not go without notice at the service at Sydney Grammar School that the collapse in 2008 of the finance company he chaired, Allco Finance Group, had traumatised the former high-flyer.
The cross-section of people who turned up to remember the man they knew as "Coey" was testament to the breadth of his interests and gregarious nature.
They included the former prime minister John Howard, cricketers Michael Clarke and Shane Warne, former Wallabies Phil Kearns and John Eales, actor Russell Crowe and INXS guitarist Kirk Pengilly.
High-profile members of the business community included Seven Group Holdings executive director David Leckie, former Qantas chief executive Geoff Dixon and Future Fund chairman David Gonski.
Wallaby great Michael Lynagh told the mourners that Mr Coe had "tough and stressful times but he dealt with adversity as he did with triumph", and after "these difficult times people stood by him".
"This demonstrates what sort of person David was - his friends did not desert him," he said.
A close South African friend, Paul Harris, said Mr Coe was a team player in business but was traumatised by what occurred during the global financial crisis. "In fairness to him, he was not alone. It was a crisis precisely because the whole world got it wrong and didn't see it coming," he said. "He cared so it took a toll on him. The way his friends stood beside him is testament to what a great person Coey was."
The collapse in November 2008 of Allco owing $1.1 billion became one of the most high-profile failures of a raft of Australian companies during the financial crisis. Mr Coe, 58, died suddenly last month while on a skiing holiday in Aspen, Colorado.
Frequently Asked Questions about this Article…
David Coe was a prominent Sydney financier and a key figure in the city's business establishment. He chaired Allco Finance Group and was widely known for his wide circle of friends across business, sport and entertainment. He died aged 58 while on a skiing holiday in Aspen, Colorado.
Allco Finance Group collapsed in November 2008 owing $1.1 billion. The failure was one of the most high‑profile corporate collapses in Australia during the global financial crisis.
The collapse took place in November 2008 and involved about $1.1 billion, making it a standout failure among a raft of Australian companies hit during the global financial crisis.
According to people at his memorial, the 2008 collapse of Allco traumatised David Coe. Friends said the financial crisis took a toll on him even though he remained supported by a close network of colleagues and friends.
More than 1,200 mourners gathered at Sydney Grammar School. Attendees included former prime minister John Howard; cricketers Michael Clarke and Shane Warne; Wallabies Phil Kearns and John Eales; actor Russell Crowe; INXS guitarist Kirk Pengilly; and business figures such as David Leckie (Seven Group Holdings), Geoff Dixon (former Qantas chief executive) and David Gonski (Future Fund chairman). The turnout highlighted the breadth of his personal and professional network.
His memorial was held at Sydney Grammar School on a Tuesday, where more than 1,200 people attended to pay tribute to him.
Speakers at the service described Coe as a team player who cared deeply and who faced adversity with the same character he showed in success. Friends said they stood by him during difficult times, underlining the personal support he had from peers.
Allco's November 2008 failure — a $1.1 billion collapse — became one of the most high‑profile Australian corporate failures of the period. Observers cite it as an example of how widespread and damaging the global financial crisis was for businesses across Australia.
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