Ex-spy boss to review foreign investments

A former boss of Australia's spy agencies has been appointed to head up the federal government's watchdog for foreign investments.

David Irvine will begin his five-year term as chair of the Foreign Investment Review Board from April 16.

He's the former director-general of the Australian Security Intelligence Organisation and the Australian Secret Intelligence Service.

Mr Irvine has also previously served as ambassador to China and High Commissioner to Papua New Guinea.

He replaces Brian Wilson.

Mr Wilson attracted controversy late last year when it was revealed he was taking up a senior advisor role with the Carlyle Group in what was considered a perceived conflict of interest.

He later postponed taking up the position until the end of his term and promised to excuse himself from any involvement if the review board had any dealings with the firm.