Receiving major national and international awards, in recognition of his remarkable achievements in business, has been part and parcel of Brian McCarthy’s busy life but the latest honour, bestowed on him in Killarney on Thursday afternoon, is one he said he will really cherish.

The founder of financial services giant Fexco has become the latest recipient of the prestigious Order of Inisfallen award which recognises outstanding contributions to the economic development of Killarney, Kerry and its tourism industry.

Mr McCarthy worked with AIB in Killorglin until 1981 before circumstances – in the form of a bank strike – saw him identify a huge opening in foreign exchange.

That initial very small scale operation, catering for the currency swap needs of visitors on the streets of Killorglin, quickly grew to great heights and it led to the foundation of a dynamic financial services company that now employs more than 2,800 people worldwide.

At the Order of Inisfallen investiture at Muckross House, Mr McCarthy was formally presented with the award – a special pin and framed scroll – by Mayor of Killarney, Cllr Maura Healy-Rae, who pointed out that it is the most prestigious honour Killarney can bestow.

“There is no more deserving recipient of the Order of Inisfallen than Brian McCarthy who is acknowledged worldwide as a prominent, dynamic and successful business leader,” she said.

The mayor said he has demonstrated incredible professional and entrepreneurial abilities, instilled confidence within Ireland's business community and played a pivotal role in fostering job growth and economic progress in Kerry and in the country.

“The most impressive thing of all is that, despite the incredible success, Brian McCarthy is still the same humble, genuine and compassionate man today that he was all those years ago when he first dipped his toe into the mainly unchartered territory that was the foreign exchange business.

“Success hasn’t changed him one iota – and that’s the true sign of a great man,” Mayor Healy-Rae said.

The Order of Inisfallen awards scheme is a joint initiative between Killarney Chamber of Tourism and Commerce and Kerry County Council. It was established in 2005 to recognise outstanding contributions by people to the economic development of the town, the county and its tourism industry. Those selected for the honour are invested as Members of the Order of Inisfallen.

The 17 previous recipients include Charles, the King of England, former Taoiseach Enda Kenny, actor Michael Fassbender, entertainer Daniel O’Donnell, industrialist Isolde Liebherr and business personalities Margaret O’Donoghue, Donal Ring and Micheál O’Donoghue.

Other speakers at the award presentation, at which businesswoman Geraldine Rosney was the MC, included the outgoing Chairman of the Muckross House Trustees, Marcus Treacy, and Killarney Chamber of Tourism and Commerce Co-President, Johnny McGuire described Brian McCarthy as one of the greatest entrepreneurs and innovators this country has ever produced.

“Brian is very deserving of this recognition and those of us that have watched his remarkable entrepreneurial spirit come to the fore over the past four decades and more know how worthy he is of every success that comes his way,” Mr McGuire remarked.