Tech entrepreneur father-of-three presumed dead after 'violent' boat crash

Sydney tech entrepreneur Andrew Findlay is presumed dead after a boat crash off Watsons Bay on Thursday.

The father-of-three was on board the vessel with renowned art dealer Tim Klingender, 59, whose body has been recovered from the water.

Rescue crews were back out today looking for signs of the 51-year-old but he is now presumed dead.

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The boat was travelling in a northerly direction from Bondi towards South Head in Watsons Bay.

NSW Police Superintendent Joe McNulty said the men were fishing coming along rockface when they went over a bombora and were swept up by a large wave in a "violent accident".

"It has possibly capsized the vessel and thrown both men into the ocean," McNulty said.

The vessel remains in the rockface at Jacob's Ladder near South Head.

"The boat has capsized into the swell and it has been washed up onto the rocks," McNulty said.

Detectives have kept in contact with Findlay's family during the search.

Neither man was wearing a life jacket.

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"There is always a chance of survival wearing a lifejacket," McNulty said.

"This was a horrendous capsize and accident.

"It may have saved their lives at the time, it may have not.

"But the message is: always wear your life jacket."

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