Costello scores private sector job

Life after politics has suddenly got serious for former treasurer Peter Costello - he's found himself a full time job with a newly-established corporate advisory firm.

Mr Costello has jumped aboard BKK Partners - an outfit set up by former Goldman Sachs JBWere executives - as managing director.

But Australia's longest serving treasurer insists it is not a lobby group and he won't be lobbyist.

"If I wanted to be a lobbyist I would have joined a lobby group," he told reporters on Wednesday.

He said he would be providing "high level strategic advice" to Australian companies.

BKK Partners chief executive Andrew Stuart said Mr Costello would bring a unique perspective to the new firm.

"Peter has an international reputation for sound economic management and policy development, and continues to serve as a member of the independent advisory board of the World Bank," he said.

The firm includes experts in investment and financial banking, securities sales and trading, private equity, and government advisory.

Mr Costello refused to be drawn on the comments of former prime minister and treasurer Paul Keating who called him a "policy bum" following Mr Costello's appointment to the board of the Future Fund.

He said he was the treasurer who established the Future Fund, pumping in $60 billion of public servants' superannuation savings.

"If someone says to me would I like to serve on the Future Fund what can I say - 'I don't like the bloke who set it up?".

"I have acknowledged on many occasions that Mr Keating did some good things but he has been retired from politics for 13 years.

"I have been retired for three weeks and I am pursuing a new life and a new career - I am not going to be sucked into a slanging match with him."

Mr Costello preferred to fall back on his 12-year record as treasurer, saying he steered the country out of a $96 billion deficit and presided over sustained growth.

But Mr Costello was prepared to give his views on the refugee dilemma facing Australia, saying it was important to conduct an orderly refugee program.

"The most orderly way to do it is to encourage people to apply offshore," he said.

"This is how humanitarian visas are allocated - it is a terrible, terrible risk if you allow the view that getting into Australia is as simple as hitching a boat."