The prepaid card provider BillMyParents has hired Kim Petry to be its new chief financial officer, replacing Jonathan Shultz, in an appointment that’s scheduled to take effect in mid-to-late February.
Petry was most recently CFO and vice president of global commercial/corporate card payment with American Express, where she led team of more than 150 globally, supporting a business with more than $4 billion in revenue.
Petry will help BillMyParents grow the company’s card processing and its internal and external reporting, said Mike McCoy, BillMyParents' chief executive officer, in a release. BillMyParents did not disclose plans for Shultz, beyond thanking him for his service to the organization. The company was not immediately available for comment on Tuesday morning.
BillMyParents' main product is the SpendSmart MasterCard, a reloadable prepaid card that allows parents and teenagers to monitor spending in real time. Its features include the ability to lock, unlock and reload the card at any time, and text alerts to parents and teens showing transaction details with each purchase.
Petry has also served as vice president of corporate finance, planning and analysis and business finance and analysis with TIAA-CREF, where she lead a staff of more than 140 people in the U.S. In that role, she was responsible for reporting, budgeting, forecasting, strategy, long-term planning, new product development, mergers and acquisitions.
She also served as managing director of finance at US Trust Corporation/Schwab Corporation for five years in several executive roles following her prior experience working as an audit manager in financial services at PricewaterhouseCoopers.