Mikhail Mikhailovich Zadornov (born 4 May 1963) is a

Russian Russian(s) may refer to: *Russians (), an ethnic group of the East Slavic peoples, primarily living in Russia and neighboring countries *A citizen of Russia *Russian language, the most widely spoken of the Slavic languages *''The Russians'', a b ...

economist, chairman of the management board of Otkritie FC Bank, President and chairman of the management board of VTB 24 in the years 2005–2017, government official, Russian Minister of Finance from 1997 to 1999, Russian State Duma Deputy, 1st – 4th Convocations. Recipient of the

Order "For Merit to the Fatherland" The Order "For Merit to the Fatherland" () is a state decoration of the Russian Federation. It was instituted on 2 March 1994 by Presidential Decree 442. Until the re-establishment of the Order of St. Andrew in 1998, it was the highest order of ...

IV class and a Certificate of Honour from the Russian Government.

Family and early life

Mikhail Zadornov was born on 4 May 1963 in

Moscow Moscow is the Capital city, capital and List of cities and towns in Russia by population, largest city of Russia, standing on the Moskva (river), Moskva River in Central Russia. It has a population estimated at over 13 million residents with ...

to a family of

geologists A geologist is a scientist who studies the structure, composition, and history of Earth. Geologists incorporate techniques from physics, chemistry, biology, mathematics, and geography to perform research in the field and the laboratory. Geolog ...

and spent his early years with his parents in Kamchatka Oblast (in 1995, he was elected as this region's deputy to the Russian

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 ...

Education

In 1980, Zadornov graduated with honours (gold medal) from Secondary School No. 875 in

. In 1984, Zadornov graduated with honours (“red diploma”) from Plekhanov Moscow Institute of People's Economy (currently known as Plekhanov Russian University of Economics). In 1988, after serving two years in the Soviet army, he received a master's degree from the Institute of Economics of the

USSR Academy of Sciences The Academy of Sciences of the Soviet Union was the highest scientific institution of the Soviet Union from 1925 to 1991. It united the country's leading scientists and was subordinated directly to the Council of Ministers of the Soviet Union (u ...

. In 1989, Zadornov was awarded a PhD in economics (he wrote his dissertation on ''Efficiency of Plant Renovation Investments in Industrial Enterprises'').

Economist

* 1988–1990 – research fellow at the Institute of Economics (USSR Academy of Sciences). * 1989–1990 – expert in the planning and budgeting commission of the

Supreme Soviet of the USSR The Supreme Soviet of the Union of Soviet Socialist Republics (SSUSSR) was the highest body of state authority of the Soviet Union (USSR) from 1936 to 1991. Based on the principle of unified power, it was the only branch of government in the S ...

. * 1990 – member of the State Commission for Economic Reform (headed by Grigory Yavlinsky) at the RSFSR Council of Ministers and co-author of the 500 Days economic programme. * 1991–1993 – leading research fellow and board member at the Centre for Economic and Political Studies (EPIcentre), then headed by G.A. Yavlinsky; participant in EPIcentre's projects ''Take a Chance'' (Harvard,

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

, 1991) and ''Nizhny Novgorod'' (1992).

Politician

In 1993, Zadornov was among founders of the Yabloko movement (currently known as "Yabloko" Russian united democratic party). 1994–1995 – deputy of the 1st State Duma, member of the Yabloko parliamentary group. Chairman of the Committee for the Budget, Taxes, Banks and Finance. 1996–1997 – deputy of the 2nd State Duma (elected to represent the Kamchatka constituency as a member of Yabloko); Chairman of the Committee for the Budget, Taxes, Banks and Finance. November 1997 – May 1999: Minister of Finance of the Russian Federation (in the cabinets of Prime Ministers

Viktor Chernomyrdin Viktor Stepanovich Chernomyrdin (, ; 9 April 19383 November 2010) was a Soviet and Russian politician and businessman. He was the Minister of Gas Industry of the Soviet Union (13 February 1985 – 17 July 1989), after which he became first chairm ...

Sergei Kiriyenko Sergey Vladilenovich Kiriyenko (''Birth name, né'' ''Izraitel''; ; born 26 July 1962) is a Russian politician who has served as First Deputy Chief of Staff of the Presidential Administration of Russia since 5 October 2016. He previously served ...

and

Yevgeny Primakov Yevgeny Maksimovich Primakov (29 October 1929 – 26 June 2015, ) was a Russian politician and diplomat who served as Prime Minister of Russia from 1998 to 1999. During his long career, he also served as Minister of Foreign Affairs from 1996 to ...

). Zadornov joined the cabinet without the authorisation of the Yabloko party and for this reason he withdrew from the party leadership. He participated in the decision-making for the default in August 1998. Following the default, Zadornov offered his letter of resignation, which was not accepted. On 25 May 1999, Zadornov was appointed First Deputy Prime Minister of Russia, but filed to resign (and was succeeded in office by Mikhail Kasyanov) after learning that the appointment was subject to his resignation as Minister of Finance. Zadornov's resignation as First Deputy Prime Minister was accepted on 28 May 1999. May – September 1999 – Russian Special Presidential Envoy for relations with international financial institutions. October – December 1999 – Special Advisor to the president of

Sberbank of Russia The Public JSC Sberbank (, initially a contraction of ) is a Russian majority state-owned banking and financial services company headquartered in Moscow. As the Russian successor entity of the State Labor Savings Banks System of the USSR, it was ...

. 2000–2003 – Deputy in 3rd State Duma (elected to represent the Universitetsky constituency of Moscow with the Yabloko party); member of the Yabloko parliamentary group; Deputy Chairman of the Budget and Taxes Committee; member of the Commission for Review of Federal Budget Expenditures for Defence and National Security. 2004–2005 – (independent) Deputy in 4th State Duma (elected to represent the Universitetsky constituency of Moscow with the Yabloko party); independent deputy; member of the Budget and Taxes Committee. Since April 2005 – member of the Republican Party of Russia, member of the party's policy council.

Sanctions

Zadornov was sanctioned by the UK government on 4 May 2022 in relation to the

Russo-Ukrainian War The Russo-Ukrainian War began in February 2014 and is ongoing. Following Ukraine's Revolution of Dignity, Russia Russian occupation of Crimea, occupied and Annexation of Crimea by the Russian Federation, annexed Crimea from Ukraine. It then ...

Executive

* Since June 2005 – Member of the Board of Directors of Seventh Continent (as a non-executive director). * Since July 2005 – President and Chairman of VTB 24. * Since 2011 – chairman of the Board of Directors of TransCreditBank OJSC. * Since 2010 – chairman of the Board of Directors of VTB Insurance LLC. * Since 2015 – Member of the Board of Directors of Bank of Moscow. * Since 2016 – Member of the supervisory board of Post Bank PJSC. * December 2016 – May 2017 – Member of the management board of

VTB Bank VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered as St. Petersburg. As of 2022, ...

. * Since January 2018 – chairman of the management board of Otkritie FC Bank which was taken over by the Central Bank in August 2017 as part of financial rehabilitation measures. In 2010, Zadornov was ranked No.1 in the rating of bank executives compiled by the

Kommersant (, , ''The Businessman'' or Commerce Man, often shortened to Ъ) is a nationally distributed daily newspaper published in Russia mostly devoted to politics and business. The TNS Media and NRS Russia certified July 2013 circulation of the daily ...

newspaper.

Views

Zadornov is an advocate of the free-market economics and

monetarism Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation. It gained prominence in the 1970s, but was mostly abandoned as a direct guidance to monetar ...

. He supported and implemented tough fiscal policies when he was finance minister.

Hobbies

When not in the office, Zadornov enjoys sports and spends time supporting his favourite football and basketball teams. He is also fond of the theatre, classical music and travel.

Personal life

Mikhail Zadornov is married and has a daughter.

References

{{DEFAULTSORT:Zadornov, Mikhail 1963 births Living people Plekhanov Russian University of Economics alumni Economists from Moscow Yabloko politicians First convocation members of the State Duma (Russian Federation) Finance ministers of Russia Deputy heads of government of the Russian Federation Russian corporate directors Second convocation members of the State Duma (Russian Federation) Third convocation members of the State Duma (Russian Federation) Fourth convocation members of the State Duma (Russian Federation) Russian individuals subject to United Kingdom sanctions