Walmart is showing it is serious about expanding beyond retail to become an ecosystem of products and services that make its customers' lives better. The retailer has hired two veteran bankers from Goldman Sachs, who are leaving their former employer to help lead Walmart's financial technology startup. The retailer said it may acquire or partner with other fintech companies, but would not divulge more details about the venture – not even its name.
Omer Ismail, who leads Goldman’s consumer bank, and David Stark, another Goldman banker, are leaving for the retailer. A Goldman Sachs spokesman confirmed their departures.