Bernie Ripoll has been appointed Opposition spokesman for Financial Services and Superannuation, bringing experience in the sector to the position.

Mr Ripoll previously chaired a joint parliamentary inquiry into financial products and services following the collapse of companies such as Storm Financial and Opes Prime.

The final recommendations from the inquiry became known as the Ripoll Report.

He also held the position of Parliamentary Secretary to the Treasurer in the past Labor government.

Opposition leader Bill Shorten allocated a separate financial services role in his shadow ministry despite no equivalent minister in the Abbott Government.

Chis Bowen is Shadow Treasurer, after most recently holding the Treasurer role in Kevin Rudd’s ministry, while Andrew Leigh is Shadow Assistant Treasurer.

Dr Leigh is a lawyer who has served on the House of Representatives Standing Committee on Economics. He was a principal adviser to Treasury from 2008 until 2009.

Prime Minister Tony Abbott last month named Joe Hockey as Treasurer, Arthur Sinodinos as Assistant Treasurer and Steven Ciobo as Parliamentary Secretary to the Treasurer.

Parliament will resume sitting on November 12.