One-time Irish Permanent Building Society chief executive, Dr Edmund Farrell, died earlier this week at the age of 67 after a period of illness.

Dr Farrell became chief executive of the building society in 1975 at the age of 28 following the death of his father, also called Edmund.

In the 1980s he began preparing it for flotation and increased competition in the home loans business by hiring a number of high-profile players.

By the early 1990s, Roy Douglas had taken on the chief executive's role and Dr Farrell was executive chairman.

He left the building society ahead of its flotation when it emerged that it had bought his home in 1987 and subsequently sold back it to him after refurbishing it extensively.The former building society is now part of retail bank Permanent TSB.

Dr Farrell’s funeral will take place at 11am today at the Church of the Assumption, Booterstown Avenue, Dublin.