One of Herman Rockefeller's former New Zealand business associates, Jim Watson, said the businessman's disappearance was "totally out of character".
Watson, a biotech business pioneer and current chair of the Royal Society's National Science Panel, said Rockefeller helped him establish Genesis Research in the early 1990s.
"He was the director [of Genesis] for about seven years and we've been close personal friends the whole time," he said.
The two men took part in several 100km "endurance walks" together.
"They damn near killed me, but they were a lot of fun," Watson said.
The Sydney Morning Herald has reported that Rockefeller, 52, failed to arrive at his Melbourne home, following a four day inter-state business trip, last Thursday night.
Described as a millionaire property developer by Australian media, Rockefeller played a prominent role in the April 1998 boardroom coup that forced the departure of Brierley's chief executive, Paul Collins, and chairman, Bob Matthew.
In 2000 Rockefeller left Brierley Investments when the company's relocation to Singapore saw a major restructuring of roles.
He had been the investment company's CFO for eight years.
Watson said he was surprised the Australian police were now investigating whether his friend's disappearance was deliberate.
"It's just so unlike Herman," he said.
"He's got a lovely family ... a lovely place to live. I thought he was living his life his life exactly the way he wanted.
"I don't have any reason for understanding his behaviour unless there is something organically wrong with him."
Watson said he did not believe Rockefeller was under any "financial stresses" and was "completely devoted" to his wife and two teenage children.
He said he last met Rockefeller in Auckland a year ago, and said he thought Rockefeller was enjoying running his property business with his brother in Australia.
"[Rockefeller] was terrifically healthy and on top of the world," said Watson.
He said he had only found out about his friend's disappearance yesterday, and was about to give Rockefeller's wife Vicky a call when he heard the Australian police were investigating whether he had intentionally gone missing.
Watson said he would wait for a better time to give Vicky Rockefeller a call.
Rockefeller had emigrated from the United States to Australia, with his family, when he was aged around 10, he said.
"I'm not aware of any connection between him and the big Rockefeller family."
It has also emerged that Rockefeller owns a holiday house in the Otago town of Karitane formerly occupied by Plunket founder Sir Truby King.
One resident, who did not want to be named, said it was "a lovely historical house" formerly owned by the founder of the Plunket Society.
She said she had met 52-year-old Rockefeller once in Karitane, but did not want to comment on the missing businessman any further.
Residents in Karitane, a small coastal town 40km north of Dunedin, were mostly unwilling to talk about the disappearance of their town's part-time resident.
One Karitane resident, who described himself as a "concerned friend of the family", said Rockefeller and his wife Vicky were "a perfect couple".
"People I've spoken to are mystified ... he's such a likeable guy and a good husband and a good father," said the man.
He said Rockefeller and his wife visited Karitane "as they pleased" - usually at Christmas time.
"Personally, I'm mystified," he said.
Another resident said the Rockefeller's house in Karitane was almost permanently unoccupied.
"I've never seen anyone in the house," she said. "I think someone looks after it."
Sir Truby King was born in New Plymouth in 1858, and went on to establish the Plunket Society in 1907.
Rockefeller disappearance mystifies Kiwi colleague
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