Dr Durie, who was awarded an MBE and the George Medal in the 1940s, was managing director of Courage Western until he retired in 1986.
He served as chairman of both Bristol and Weston Health Authority and United Bristol Healthcare NHS Trust, and was a leading light in the highly successful Wallace and Gromit Grand Appeal.
In 2002 he was awarded an OBE for services to the community, especially the Bristol Royal Hospital for Children.
Professor Eric Thomas, Vice-Chancellor of the University, said: ‘Peter was a remarkable man – wise, energetic and selfless – and a great friend to the University. Our heartfelt condolences go out to his family.’