David Stark, one of his top lieutenants at Goldman, will also join him, the report added.
“Our business has serious momentum and a deep and growing bench of talent. We wish these two well,” Goldman Sachs spokesman said in an emailed statement.
Earlier this month, Reuters reported that Goldman appointed former PayPal executive Swati Bhatia and insider David Stark to leadership roles in its consumer banking unit.
Ismail replaced Harit Talwar and became global head of Goldman’s Marcus consumer bank last year.
Walmart did not immediately respond to requests for comment.
In January, Walmart entered into a strategic partnership with investment firm Ribbit Capital to create a new fintech startup.
Reporting by Sabahatjahan Contractor in Bengaluru; Additional reporting by Elizabeth Dilts; Editing by Lisa Shumaker and Nick Zieminski