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Walmart building seen from parking lot, with sign and worker A worker wearing a protective mask pulls shopping carts outside a Walmart store in Duarte, California, U.S., on Thursday, Nov. 12, 2020. Walmart’s move underscores the seriousness of the retailer’s intent to intertwine itself in the financial lives of its customers. (Photo: David Swanson/Bloomberg)

(Bloomberg) – Walmart has lured a pair of senior Goldman Sachs bankers to help lead a new fintech startup as the retail giant muscles into the banking business. Omer Ismail, the head of Goldman’s consumer bank, is making a surprise exit to the fintech, according to people with knowledge of the matter. The world’s largest retailer made a splash last month after disclosing plans to offer financial services with an independent venture in a tie-up with investment firm Ribbit Capital without offering much detail.

David Stark, one of his 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.

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