Somany, who is based in London, will have global responsibility for all aspects of strategy, product management and platform profitability.
He reports to Clive Pedder, executive vice president and general manager of Wolters Kluwer’s Finance’s risk and reporting business.
Somany moves from Citigroup where he spent the past 12 years in series of senior positions including his most recent role as as managing director, with international assignments spanning Europe, Asia Pacific and the US.
Somany said: “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.”
Pedder added: “With this senior hire we are further strengthening our overall product strategy and go-to-market capabilities. Rajat Somany 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.”