Overview

Gender

male

Investor Type

Angel

Mr Fite is an international investor focused on financial services and credit exposures. He has significant operating experience in financial services and turnarounds including roles at Shinsei Bank (formerly known as The Long-Term Credit Bank of Japan) and Westpac Banking Corporation. Mr Fite joined Shinsei at the time of its acquisition from the Japanese Government by a private equity consortium. As the Senior Corporate Executive Officer, Chief Financial Officer, and member of the Board, Mr Fite was the most senior non-Japanese member of management. During Shinsei’s recovery he had managerial responsibility for all of Shinsei’s operating businesses at various times as well as overseeing the creation of a loan work-out unit responsible for reducing Shinsei’s bad debts by over USD $15 billion. Shinsei’s IPO and the subsequent share sales by the private equity consortium returned more than ten times the original investment of approximately USD $1 billion.

Mr Fite joined Westpac as it sought to rebuild itself during the Australian recession of the early 1990s, initially serving as Treasurer and Assistant Chief Financial Officer. He went on to run Westpac Financial Services, before serving as the Group Executive responsible for all retail and business banking product businesses in Australia, Westpac Financial Services and Australian Guarantee Corporation, as well as cash management, trade finance and all of the technology and operations in the global institutional business.
Prior to entering financial services, Mr Fite was a consultant at Bain & Company, in Boston and London, focused on the manufacturing and consumer products industries.

Mr Fite has served as a Board Director, or Chairman, of both financial services and fast-growing technology companies in numerous countries. Appointments have included Shinsei Bank Ltd (Japan), Westpac Financial Services (Australia), National Financial Solutions (Australia), Cosmos Bank Ltd (Taiwan), ePredix (USA), Evari Pty Ltd (Australia) and Marsello Limited (New Zealand). He has also served as the Deputy Chairman of Australia’s peak industry body for financial services.
Currently Mr Fite manages various credit, financial services, and portfolio interests, through his role as a Managing Partner of Euclid Capital Partners, LLC, his private investment firm. He has led investment rounds in several of Australia’s leading fin-tech companies and is currently the largest non-founding early shareholder in both of Australia’s two most successful fin-tech business as ranked by KPMG in 2016. He is and has been actively involved in helping guide several investee companies to significant growth and successful exits for shareholders.

Mr Fite was born and grew up in New York. He attended Harvard College where he graduated magna cum laude. He also holds an MBA as an Arjay Miller Scholar and a Masters in Economics from Stanford University. He is active in the Australian alumni network of both of his alma maters as well as several arts and social service organizations. David lives in Sydney, Australia and Jackson, Wyoming.