Role for Combet with super group

Industry Super Australia has appointed former climate change minister Greg Combet as its adviser ahead of the ‘‘son of Wallis’’ financial systems inquiry.

The former Labor minister will work as a part-time principal adviser to Industry SuperFunds and stakeholders to provide advice to the ISA board on policy development relating to the inquiry.

ISA represents a group of industry retirement schemes that collectively have more than $50 billion under management. The vehicle is chaired by former NSW Liberal politician Peter Collins and includes former Victorian Labor premier John Brumby as deputy chairman.

‘‘Greg brings invaluable experience and knowledge of all aspects and functions of Industry SuperFunds. He has a clear understanding of policy development at the highest levels of government,’’ Mr Collins said. ‘‘His knowledge and experience will greatly assist ISA, and its stakeholders, in preparation for the financial systems inquiry, with a strong submission expected from Industry SuperFunds.’’

The inquiry’s terms of reference are expected to be announced by Treasurer Joe Hockey by the end of the year.