INTERVIEW | Arne Martin Moen brings rare insight into operating model transformation, having led change from the asset manager side before moving to JPMorgan as Head of Securities Services for the Nordics earlier this year. Now operating from the other side of the fence, he will reflect on where European operating models stand today—and share what he believes unlocks real evolution. September’s event marks his ninth appearance at PostTrade 360.
In January 2026, JP Morgan recruited Arne Martin Moen from Storebrand Asset Management to head up Securities Services for the Nordics. Less than six months later, he took on the additional role of Head of Depositary Services—a function he describes as sitting at the heart of fund oversight and investor confidence, aligned with helping safeguard funds across strategies, jurisdictions, and operating models.
With this background, Moen will give his particular take on building a mix of platformed services. “Developing and pushing the boundaries of operating models into future technology and the future state of operations has been a very dear part of my career for a very long time,” he says. The discussion at PostTrade 360 will centre on where firms have come from—a very in-house “we’ll do everything ourselves” mindset—to now exploring and buying a range of components and functions and putting all those pieces together.
A 2024 HedgeNordic roundtable on insourcing versus outsourcing, featuring COOs of Nordic hedge funds, observed that many asset managers and asset owners have kept operations in-house, typically building and managing solutions themselves on top of external systems. Firms in the US, by contrast, have long outsourced everything outside of investment management, leaving operational functions to specialist providers.
The outsourcing shift
It is this contrast that provides the jumping-off point for Moen. “I’ve been working on this for many years — how can we develop our operating model into using more platforms, more services, and more of the new technology: cloud technology, data platforms, AI. There’s been a shift now in Europe. It’s come through the UK and then Europe, and now it’s moving into the Nordics where you see more and more asset managers and asset owners focusing on how to optimise their operating model using all these components. The technology development over the years has helped shift that focus because a lot of these solutions were not there 10–15 years ago, but the new technology is there.”
This shift is borne out in the data. According to Alpha FMC’s Global Operations Survey, drawing on inputs from 75 asset managers and asset owners globally, outsourcing is accelerating, with 24% of firms seeking to increase outsourcing across the middle or back office.
“We see interest in outsourcing basic back-office functions, fund accounting, and platforms like ETFs,” notes Moen. “We have multiple clients now in the Nordics where they buy the whole service from JP Morgan. So there’s a shift towards doing more platforms and outsourcing, building an operating model that consists of these pieces, and then focusing on the value-added tasks that an investment manager can bring to the table.”
Moen believes asset managers and asset owners looking for scalability stand to gain the most—and with a few months at the bank behind him, he has some pointed observations to share. “We see fee compression in the market—especially on the fund side and also on the pension side—so there’s a requirement to become more scalable, to do more with less resources. Scalability is a key word— being able to launch new products more efficiently, take on more funds, take on more clients, and compete in the market.” Morningstar’s Global Investor Experience Study (2024) confirms consistent fee compression across European funds, with Sweden among the lowest-fee markets due to competition and regulatory pressure—a trend reinforced by ESMA’s 2025 report on the total cost of investing in UCITS and AIFs.
All things AI
Underpinning all of this is AI. Alpha FMC’s 2025 report on AI transformation across middle and back office operations finds that 91% of firms are using or planning to adopt AI, with 84% prioritising operational efficiency — and firms are increasingly turning to external platforms because AI demands clean data, integrated systems, and specialist expertise. Moen points to the pace of change as the real pressure point: firms that wait risk falling too far behind to remain competitive.
It is a priority he sees reflected at the very top of JPMorgan. During a recent visit to Oslo and Copenhagen, CEO Jamie Dimon held a town hall with employees covering geopolitics, EU–US relations, and the opportunities and disruption coming from AI. The bank is investing heavily in technology to remain at the forefront. “That’s been very inspiring for me—to be part of this global organisation and work locally with our Nordic clients, taking the global scale down to the local presence in the Nordics.”
As September approaches, Moen is looking forward to bringing that perspective to the room. The evolution in outsourcing mirrors his own trajectory—both on an upward curve. “Having been at the conference since around 2017, the development has been fantastic. The new format in Stockholm, gathering 2,000 people, is really great for the post-trade community and all asset managers and asset owners in the region. It’s a great meeting place.”
• For more information about the PostTrade 360° conference 2-3 September 2026 and to register, click here
