Boris Grigoryevich Fyodorov (; 13 February 1958 – 20 November 2008) was a Russian economist,

politician A politician is a person who participates in Public policy, policy-making processes, usually holding an elective position in government. Politicians represent the people, make decisions, and influence the formulation of public policy. The roles ...

, and reformer.

Early life

He was awarded a doctor of economics degree from the Moscow Finance Institute and authored over 200 publications.

Career

In 1988 working very closely with Fyodorov, Alexander Zhukov, and Kirill Ugolnikov (), Deloitte & Touche began providing services to the

Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

and continued with

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

. Fyodorov was Minister of Finance of the Russian SFSR (as a constituent of the

USSR The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...

) in 1990. From 1991 to 1992 he worked for the European Bank for Reconstruction and Development in London. In 1992 he became director of the

World Bank The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

. He served as Finance Minister of Russia from 1993 until 1994, when he resigned. While he was at the Ministry of Finance (MinFin), he brought to MinFin Segei Aleksashenko, Andrey Kazmin, Igor Selivanov, and Mikhail Kasyanov. Fyodorov was a member of the

State Duma The State Duma is the lower house of the Federal Assembly (Russia), Federal Assembly of Russia, with the upper house being the Federation Council (Russia), Federation Council. It was established by the Constitution of Russia, Constitution of t ...

between 1994 and 1998. From 14 August 1998 until 28 September 1998, he became a tax minister and

Deputy Prime Minister of Russia Deputy Chairman of the Government of the Russian Federation () is a member of the Government of Russia The Russian Government () or fully titled the Government of the Russian Federation () is the highest federal executive governmental body o ...

during the Russian financial crisis which began on 17 August 1998.

United Financial Group

In 1994, he and Charles Ryan, a United States banker and Libertarian, founded United Financial Group (UFG), an investment bank with Charles Ryan as its chairman, which, in 2005, was sold to Deutsche Bank. United Financial Group was established with a Moscow-based parent firm and an

Isle of Man The Isle of Man ( , also ), or Mann ( ), is a self-governing British Crown Dependency in the Irish Sea, between Great Britain and Ireland. As head of state, Charles III holds the title Lord of Mann and is represented by a Lieutenant Govern ...

based United Financial Group firm managing its shell companies around the world. The address of the Isle of Man-based UFG firm is the same address as the Isle of Man office of Deloitte & Touche. Fyodorov was a member of various boards including

Gazprom PJSC Gazprom ( rus, Газпром, , ɡɐsˈprom) is a Russian State-owned enterprise, majority state-owned multinational Energy industry, energy corporation headquartered in the Lakhta Center in Saint Petersburg. The Gazprom name is a contract ...

, Sberbank and Ingosstrakh. In February 2002, while Fyodorov was an independent director of Gazprom, he stated that

PricewaterhouseCoopers PricewaterhouseCoopers, also known as PwC, is a multinational professional services network based in London, United Kingdom. It is the second-largest professional services network in the world and is one of the Big Four accounting firms, alon ...

(PwC) signed off on poorly performed audits of natural gas firm interactions such as Gazprom-Itera because PwC wanted to keep the account with Gazprom saying "If an auditor knows it cannot do a proper review, then it is just doing it for the money." Further, he said that any audits by Deloitte & Touche into the Gazprom-Itera interactions were strongly opposed by Gazprom management. He was also a general partner of UFG Private Equity starting from 2006. Fyodorov died from a

stroke Stroke is a medical condition in which poor cerebral circulation, blood flow to a part of the brain causes cell death. There are two main types of stroke: brain ischemia, ischemic, due to lack of blood flow, and intracranial hemorrhage, hemor ...

on 20 November 2008 in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, England, at the age of 50.Boris Fyodorov, 50, Dies; Guided Reforms in Russia
''

The New York Times ''The New York Times'' (''NYT'') is an American daily newspaper based in New York City. ''The New York Times'' covers domestic, national, and international news, and publishes opinion pieces, investigative reports, and reviews. As one of ...

'', 21 November 2008

Notes

References

{{DEFAULTSORT:Fyodorov, Boris 1958 births 2008 deaths Economists from Moscow Communist Party of the Soviet Union members People from Moscow Politicians from Moscow People's Freedom Party politicians Deputy heads of government of the Russian Federation Finance ministers of Russia First convocation members of the State Duma (Russian Federation) Second convocation members of the State Duma (Russian Federation) Gazprom people Burials in Troyekurovskoye Cemetery Financial University under the Government of the Russian Federation alumni