The new Limerick manager shared a dressing-room with McCarthy for a year as a player at Hamilton Academical before becoming his coach until Wigan spotted the Irish international's potential and persuaded him to move south.
But just as McCarthy outgrew the homely environs in Scotland, he is now becoming too big a fish for Wigan's small pool.
"James was superb, an absolute joy to work with," said Taylor. "His attitude, the way he conducted himself, his discipline, his professionalism was top-class. He thoroughly deserved his move to Wigan and was a massive loss to us.
"And I'd say James will move on soon. He has been a massive success at Wigan but I expect him to be picked up.
"What I want to pick up around Limerick is another James McCarthy. Our philosophy at Hamilton was to identify young talent and nurture them. We'd like to do that here too."