Director John Cornips said his friend and mentor loved people and was involved in many aspects of community life.

"He was a complete dynamo and sometimes didn't cope well not having people around him," he said.

"Murray always wanted to help people, and in business, politics and life always lived by the simple motto of "prepare, prepare, prepare and prepare some more".

He remembered Mr Byrne as a consummate professional, visionary and leader to staff of the firm.

"To his clients he was a trusted advisor, friend and confidante.

"It is with great sadness that we have to say goodbye to a man we admired and who achieved so much in his lifetime."

Liberal Senator Michael Ronaldson was among the first to pay tribute to Mr Byrne, who he said would be remembered as the father of Ballarat's modern industry.

"He was the first minister for decentralisation in Australia and he played a pivotal role for those major regional rural centres, particularly Ballarat," he said.

"Murray transformed those cities and industries which were suffering from tariffs and imports. He completely revitalised industries and in the process set us up for decades of job growth and decades of development."

Senator Ronaldson said Mr Byrne, a founder of the Ballarat Young Liberals in 1948, would be remembered fondly by those on both sides of the political divide.

"As a political figure, Murray interacted with people of all walks of life and had a passionate commitment to making their lives better."

thomas.mcilroy@thecourier.com.au