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The company said Buckalew was an avid golfer, tied for 94th on Golf Digest’s list of “top golfers in finance” in 2007 and often flew between the family’s homes in New York and Charlottesville, Virginia.

James W. May, executive director of the Arts and Sciences Foundation at the University of North Carolina at Chapel Hill, where Mr. Buckalew received a bachelor’s degree and an M.B.A., said he was also a big fan of North Carolina basketball and football.

May added that he often flew his plane to board meetings in North Carolina, “It was clearly something he enjoyed. It brought a smile to his face.”

The Times also reported that Corinne Buckalew was a visual artist who had once taught art at the Ethical Culture Fieldston School, and was on the board of the Virginia Center for the Creative Arts in Amherst, Virginia.

The investigation into the cause of the crash could take up to twelve months according to an NTSB spokesperson who said, “It's too early to tell if mechanical or something the pilot did.”