Boris Fyodorov

Boris Fyodorov
Born	(1958-02-13) February 13, 1958 Moscow, Russia
Died	November 20, 2008(2008-11-20) (aged 50) London, United Kingdom
Occupation(s)	Economist, politician
Known for	Minister of Finance of Russia, Deputy Prime Minister of Russia, co-founder of United Financial Group

Boris Grigoryevich Fyodorov (; 13 February 1958 – 20 November 2008) was a prominent Russian economist, politician, and advocate for economic reforms.

Early life

He obtained his doctorate in economics from the Moscow Finance Institute and contributed more than 200 scholarly works.

Career

Starting in 1988, in collaboration with Fyodorov, Alexander Zhukov, and Kirill Ugolnikov (), Deloitte & Touche began offering services to the Soviet Union, later extending their operations into Russia. Kirill Ugolnikov subsequently held the position of First Deputy Minister for Taxes and Levies of Russia and led the tax division at the law firm Vneshurkollegiya. The firm's president, Alexander Treshchev (), is recognized among Russia’s leading legal experts.

Fyodorov held the office of Minister of Finance of the RSFSR in 1990. Between 1991 and 1992, he was employed by the European Bank for Reconstruction and Development in London before assuming a director role at the World Bank in 1992. He served as Finance Minister of Russia from 1993 to 1994, during which time he brought on board influential reformers such as Sergei Aleksashenko, Andrey Kazmin, Igor Selivanov, and Mikhail Kasyanov. From 1994 to 1998, Fyodorov was a member of the State Duma. During the financial turmoil of 1998 in Russia, he was appointed tax minister and Deputy Prime Minister of Russia from 14 August until 28 September that year.

United Financial Group

In 1994, together with Charles Ryan—a U.S. banker and Libertarian—they established United Financial Group (UFG), an investment bank chaired by Ryan. Deutsche Bank acquired UFG in 2005. The company operated via a Moscow-based parent organization alongside an Isle of Man entity overseeing international shell corporations. It is noteworthy that UFG’s Isle of Man address coincided with that of Deloitte & Touche’s local office.

Fyodorov held board memberships at several leading Russian corporations including Gazprom, Sberbank, and Ingosstrakh.

As an independent director at Gazprom in 2002, Fyodorov publicly criticized PricewaterhouseCoopers for endorsing insufficient audits concerning Gazprom-Itera transactions, attributing this to PwC’s interest in maintaining their client relationship. He also highlighted that Deloitte & Touche encountered significant resistance from Gazprom’s management when attempting to audit these dealings.

From 2006 onward, Fyodorov was a general partner at UFG Private Equity.

He passed away due to a stroke on 20 November 2008 in London at the age of 50.