Boris Fyodorov

Boris Grigoryevich Fyodorov (Russian: Борис Григорьевич Фёдоров; 13 February 1958 – 20 November 2008) was a Russian economist, politician, 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 (Russian: Кирилл Угольников), Deloitte & Touche began providing services to the Soviet Union and continued with Russia.

Fyodorov was Minister of Finance of the Russian SFSR (as a constituent of the USSR) 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. 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 between 1994 and 1998. From 14 August 1998 until 28 September 1998, he became a tax minister and Deputy Prime Minister of Russia 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 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, Sberbank and Ingosstrakh.

In February 2002, while Fyodorov was an independent director of Gazprom, he stated that PricewaterhouseCoopers (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 on 20 November 2008 in London, England, at the age of 50.

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