The Association of the Luxembourg Fund Industry (Alfi) has appointed Denise Voss as chairman.

Voss said that while regulation has been the major focus over the last few years, these will be usurped by a broad range of challenges created by an ageing population and the growth of digital, among other factors.

"The asset management industry in Europe has gone through dramatic change over the past few years, with extensive regulation that has been put in place following the crisis," said Voss.

"Going forward, we face different challenges, for instance, from the greying of the population and more and more individuals being responsible for funding their own retirement, to the growth of digital technology, which means that buying habits are changing dramatically."

Denise Voss has played a key role in Alfi for many years and as vice chairman for international affairs since 2011. Voss has been a member of the Alfi board of directors since 2007. She is also chairman of the European Fund and Asset Management Association (Efama) investor education working group.

Voss is conducting officer of Franklin Templeton Investments and has worked in the financial industry in Luxembourg since 1990.