Words like "jovial" and "easy going" are used regularly by people who know Willie McCarter. But while his casual nature may be evident to those around him, Mr McCarter is used to a heavy workload. The Derry-born businessman has been a high profile figure in the north-west long before his appointment as managing director of Fruit of the Loom in 1987

His position as chairman of the International Fund for Ireland (IFI) has contributed to an equally high profile within the Irish-American community and political circles generally.

His work with the IFI has seen him meeting the US President, Mr Clinton and being awarded a CBE last year by Queen Elizabeth.

The McCarters have come a long way from the 1920s, when Mr McCarter's uncle, William, set up the business in what was then the tiny village of Buncrana.

At that stage they made ladies underwear using second-hand machinery in a small building that has since been knocked down.

Mr McCarter's father later joined his brother in the business, and the two worked closely for a number of years. It wasn't until the early 1970s that Mr McCarter himself joined.

Mr McCarter once recalled how his father had tried to encourage him away from the business saying there were "easier ways of making money".

In 1972, Mr McCarter became managing director, less than a year after joining the company.

Before following his father into the business, Mr McCarter had studied economics and political science in Trinity College, Dublin and was later awarded an MBA from the Massachusetts Institute of Technology.

Mr McCarter is regarded as a quiet man by most of his friends and there was genuine sadness expressed yesterday about his current predicament.

One of the features of his style is a closeness and affability towards his staff. Speaking yesterday, Mr George Hunter, SIPTU representative for the Donegal region, who has dealt with Mr cCarter over 20 years said he was seen as a "fatherly figure" by workers at Fruit of the Loom.

While he is easy going, he gets through a huge amount of work, said Mr Hunter.

Mr McCarter's work with the IFI is what has brought him most prominence nationally and internationally.

Established by the British and Irish governments in 1986, the fund channels contributions from the United States, the EU, Canada and Australia to worthwhile projects North and South.

Since its inception, the fund has assisted 3,400 projects, among them the £30 million Shannon-Erne Waterway and the conversion of the small business loans scheme into the Emerging Business Trust, leading to the creation of 900 jobs. The fund has attracted a sizeable share of controversy during his chairmanship. The most vocal of this has come from unionist politicians who have accused the IFI of holding a bias against unionists.

There has also been some hostile US media comment about the fund, with one television programme saying the fund has supported some "questionable" projects.

Mr McCarter has denied this and is said to be disappointed at the lack of recognition for the jobs opportunities created by the fund.

Mr McCarter was put on the board of Cooley Distillery in 1994 after merging his interests in Andrew A Watt distillery with the company.