Ismail, in particular, offers rare credentials. The audacious poaching punctuates years of warnings by bank leaders that their industry faces tough new challengers, after regulators smoothed the way for corporate giants and Silicon Valley to expand into payments and other services. This move by Walmart - depriving one of Wall Street’s elite firms of the talent atop its own foray into online banking - shows how serious the retailer's intent is, to intertwine itself in the financial lives of its customers. The retail giant however, did not offer much detail.ĭavid Stark, one of his (Omer Ismail) top lieutenants at Goldman, will join him in the new venture, the people said, asking not to be identified as the moves haven’t been announced. Inclusion Times reported last month that the retail giant disclosed plans to offer financial services with an independent venture in a tie-up with Ribbit Capital, an investment firm. According to people familiar with the matter, Omer Ismail is leaving the bank to run the recently announced Walmart fintech startup. One of such bankers is Omer Ismail, the head of Goldman's consumer bank. America's retail giant corporation, has successfully lured a pair of Goldman Sachs bankers to help lead its fintech startup as it muscles into the banking business.
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