#8 on the below page has info on some string functions with example code of each. If you want to parse the name out of the string "Hi. My name's Billy Bob", and the "Hi. My name's " will always be the same, then the name will always start at the 15th character in the string and continue to the end. Also, the name will always start one character beyond the "s" in the string. lots of different ways to do things. If you have control over how strings are sent to the arduino, then just send the name without the Hi stuff.
http://arduino.cc/en/Tutorial/HomePage
I will look at it, but I believe I have the method I want to use (see previous post)http://arduino.cc/en/Tutorial/HomePage