Finance is where they built their careers. Now some of banking’s former stars are pouring millions of dollars — and in some cases staking their careers — into new technologies that are shaking up everything from lending to payments to investing.
The list of investors is practically a Wall Street who’s who: Vikram Pandit, former chairman and chief executive of Citigroup; John J. Mack, a former chief executive of Morgan Stanley and Credit Suisse First Boston; Jon Winkelried, former president of Goldman Sachs; and J. Christopher Flowers, a former Goldman Partner. From the payments industry, Hans Morris and Joseph W. Saunders, both former chief executives of Visa, are among the prominent names.
