ZM Financial Systems develops, sells and supports in-house and online solutions that increase the knowledge and productivity of fixed income professionals in capital markets and banking. We are a private company with a laser focus on meeting the evolving needs of our clients.

ZM Financial Systems is a privately held corporation founded in 2003 by acquiring the assets of Pinehurst Analytics from IPS-Sendero/Fiserv. Pinehurst Analytics was founded in 1994 and developed the PALMS software system which became widely used in the FHLB system and other capital markets organizations for risk management, earnings simulation and capital adequacy reporting. Pinehurst Analytics was acquired by IPS-Sendero/Fiserv in 1999. In 2003, two key employees of Pinehurst Analytics, Butch Miner, CPA, CFA, and Dai Zhao Ph.D., CFA acquired the original Pinehurst assets from IPS-Sendero/Fiserv and redeveloped the PALMS system into a state-of-the-art valuation, risk and ALM tool.

ZM Financial Systems has increased revenue and client base every year and has been profitable since day one. There are more than 100 financial institutions using ZM products.

Butch is directly responsible for the management, growth and success of ZM Financial Systems business operations. He oversees all of the company's day-to-day operations in addition to leading corporate strategic initiatives.

M.A. in Finance, University of Iowa
M.A. in Accounting, University of Iowa
B.S. in Finance, Florida Southern College
Chartered Financial Analyst (CFA), 1993 
Certified Public Accountant (CPA), 1991

Dai Zhao
Co-founder
Dai oversees all research, development and technology at ZM Financial Systems. He is directly responsible for all quantitative risk methodologies and analytical models. In addition, Dai is instrumental in every corporate strategic initiative.

Ph.D. in Theoretical Physics, University of Wisconsin-Madison
B.S in Physics, University of Science and Technology of China
Chartered Financial Analyst (CFA), 2001