Dive Brief:
- Banking-as-a-Service (BaaS) company Pathward Financial Inc. appointed Sonja Theisen, 41, as its new CFO effective April, 30, 2023, the company recently announced.
- Theisen is currently the executive vice president of governance risk and compliance of the Sioux Falls, S.D.- based firm and will succeed current CFO Glen W. Herrick, 60. The new finance chief has held a number of roles since joining the company in 2013, according to an SEC filing.
- Known as MetaBank until a name change earlier this year, Pathward recently unveiled its new corporate brand on Oct. 6.
Dive Insight:
Back in 2020 Pathward, then still operating under the name of MetaBank, stepped up early in the pandemic to help the U.S. Treasury Department disburse stimulus payments.
The company, along with Fiserv, reached an agreement to issue prepaid Visa debit cards to hard-to-reach taxpayers for whom the IRS had no bank account data, according to previous reporting from Industry Dive sister publication Banking Dive.
Theisen first joined Pathward as senior vice president and controller. She moved on to the chief accounting officer role in 2015. From there, the incoming finance chief went on to also work as chief of staff and executive vice president of governance, risk and compliance, according to her LinkedIn profile.
Prior to Pathward, Theisen was head of finance operations at Western Bank from September 2012 until December 2013. Before that she was an audit manager at both Eide Bailly LLP and KPMG, according to her LinkedIn profile.
The firm reported net income rose to $23.4 million for the three months ended September 30, compared to $15.9 million in the year earlier period, according to an Oct. 27 press release.
