Rajat Somany, former Citi MD, has been appointed as Global Head of Strategy, Product and Platform Management for Wolters Kluwer’s Finance, Risk & Reporting business. Mr. Somany has 25 years of experience in management of strategy, technology, and operations within the global trading service industry. For the last 12 years, he has had different management roles such as Citigroup’s managing director, where his focus was set on the United States, Europe, and the Asia Pacific region.
In his new position, Mr. Somany will be reporting directly to Clive Pedder, the Executive Vice President and General Manager of Wolter Kluwer’s Finance, Risk & Reporting business.
Mr. Pedder noted: “With this senior hire we are further strengthening our overall product strategy and go-to-market capabilities. Rajat has significant senior experience in the banking world that will allow us to further cement our position as the leading provider of integrated regulatory compliance and reporting solutions. I’m delighted to welcome him to the firm.”
“Regulators are demanding greater integration across business processes at banks and faster reactions to changing regulation.”
Mr. Somany stated: “Regulators are demanding greater integration across business processes at banks and faster reactions to changing regulation. Siloed approaches are, as a result, a thing of the past, and this is where Wolters Kluwer can help banks adapt. The firm has long proven itself to be a trusted provider of best-in-class regulatory reporting, risk and finance solutions for financial institutions globally, adopting agile and innovative approaches as content-led technology experts. It’s an exciting time to join the firm and I look forward to working with my new colleagues to provide new and existing clients with access to market leading solutions.”