Veteran ABC business journalist and Walkley Award winner Peter Ryan has died aged 64 after a battle with cancer.

His family confirmed he passed away on Friday night in Sydney, following a 45-year career in journalism.

In recent years, Ryan was known to Australians as a trusted source of business news on ABC Radio and TV, a role he held until his retirement in June.

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He was first diagnosed with metastatic thyroid cancer in 2014, which ultimately led to his decision to retire.

According to his LinkedIn profile, Ryan began his journalism career as a copyboy at the Daily Mirror in 1980.

Over the years, he held various roles, including stints at the BBC and Nine Network, before returning to and spending much of his career with the ABC.

During more than 35 years at the ABC, Ryan held a number of senior positions, including Washington bureau chief, head of TV news and current affairs in Victoria, and executive producer of Business Breakfast.

He was the founding editor of Lateline Business, the program that would later become The Business, and eventually served as the ABC’s business editor.

From 2016 until his retirement, he was the network’s senior business correspondent.

Ryan won a Walkley award in 2017 for his groundbreaking investigative report on the Commonwealth Bank scandal, which revealed serious breaches of anti-money laundering laws and sparked widespread calls for reform in Australia’s banking sector.

He was also recognised as the National Press Club Finance Journalist of the Year in 2018 for his coverage of the banking royal commission.

In 2022, Ryan was honoured with the Order of Australia Medal for his service to journalism.

At the time of his retirement, Treasurer Jim Chalmers described him as “an absolute legend”.

“Every day as you wake up and you think about what’s happening in the economy, if you only needed to listen to one voice to be sure that you got its essential elements, it would be Peter’s,” he said.

ABC News director Justin Stevens said Ryan left a “significant legacy”.

“Through his mentorship, friendship, and professionalism, he directly touched the lives of many at the ABC,” he said.

“Through his journalism, he had a profound impact on the lives of Australians and our society. It was a privilege to know him and work alongside him.”

Former ABC News Breakfast presenter Michael Rowland paid tribute on Sunday night, recalling that Ryan was “full of old stories and good cheer” even when hospitalised.

“If you wanted to know what was going in corporate Australia, Peter was your man. His contacts and record of story-breaking were unrivalled,” Rowland said.

“On top of his courageous journalism, Peter was also a generous mentor and boss to so many over the years, including me. He had a big impact on so many ABC careers.”

On his departure from the ABC, Ryan offered words of advice to colleagues across generations.

“Avoid cynicism — be passionate,” he said.

“A good team can often be a very small team — I’ve worked in some of the best.

“Be proactive — come to the table with a great story so no-one else comes up with a dud that might waste your time.

“Work closely with top people — shut up and absorb like a sponge.

“Maintain a fastidious contact book — some low-profile contacts could soon move into higher-powered roles or, more importantly, work in backrooms where the big decisions are often made.

“Show up to work early and prove that you’re ready to take on the big story of the day.

“Try to have a Plan B in your back pocket just in case your original brilliant idea doesn’t go anywhere and the EP comes walking your way.

“Finally: Be kind and caring to people who need it.”