Phyllis Campbell, former Pacific Northwest regional chair for JPMorgan Chase & Co., is joining the board at Seattle-based remittance company Remitly Global Inc. (Nasdaq: RELY).
Remitly announced the move Thursday, along with the appointment of Ryno Blignaut, operating partner at Khosla Ventures, to the board. Campbell's appointment to Remitly's board comes just one day after she retired from her leadership position at JPMorgan Chase.
“We are delighted to welcome Phyllis and Ryno to Remitly’s board,” Matt Oppenheimer, co-founder and CEO of Remitly, said in a release. “They each bring with them a wealth of knowledge and leadership experience to complement our existing team of accomplished directors."
JPMorgan Chase first announced Campbell's retirement in March. Kerri Schroeder, a longtime executive at Bank of America, has replaced Campbell and taken on the additional role of leading the bank's middle market banking business in the region.
Campbell joined JPMorgan Chase in 2009 when the bank purchased failed savings and loan WaMu and started making inroads in the region. Before joining JPMorgan Chase, she worked for six years as president and CEO of The Seattle Foundation, the oldest community foundation in the Pacific Northwest. She was also the president and CEO of U.S. Bank of Washington. Campbell previously told the Business Journal she would like to serve on boards in her retirement.
Blignaut joined Khosla in 2019, before which he was the chief financial officer of Restoration Hardware. Khosla has invested in the payments giant Stripe and the delivery service DoorDash.
Remitly was founded in 2011 and went public in 2021. The company allows customers to send money internationally through a bank deposit, cash pickup or mobile wallet. The company launched a digital bank account designed for immigrants called Passbook, but decided this year to shut down the service. Remitly is stopping Passbook on May 1.
Along with the new board appointments, Remitly on Thursday announced Ron Shah is stepping down from the board "to focus on other professional pursuits." Shah, a partner at the venture capital firm Stripes, had been on Remitly's board since 2016, the company says, and he was an early investor in the company.
