Mikhail Mikhailovich Zadornov


Mikhail Mikhailovich Zadornov is a Russian 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 1997–1999, Russian State Duma Deputy, 1st – 4th Convocations. Recipient of the Order of Merit for the Motherland IV and a Certificate of Honour from the Russian Government.

Family and early life

Mr Zadornov was born on 4 May 1963 in Moscow to a family of geologists and spent his early years with his parents in the Kamchatka Region.

Education

In 1980, Mr Zadornov graduated with honours from Secondary School No. 875 in Moscow. In 1984, Mr Zadornov graduated with honours from Plekhanov Moscow Institute of People's Economy. In 1988, after serving in the Soviet army in 1985-1986, he received a master's degree from the Institute of Economics of the USSR Academy of Sciences. In 1989, Mr Zadornov was awarded a PhD in Economics.

Economist

In 1993, Mr Zadornov was among founders of the Yabloko party movement.
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 ; Chairman of the Committee for the Budget, Taxes, Banks and Finance.
November 1997 – May 1999: Minister of Finance of the Russian Federation. Mr 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, Mr Zadornov offered his letter of resignation, which was not accepted.
On 25 May 1999, Mr Zadornov was appointed First Deputy Prime Minister of Russia, but filed to resign after learning that the appointment was subject to his resignation as Minister of Finance. Mr 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.
2000–2003 – Deputy in 3rd State Duma ; 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 – Deputy in 4th State Duma ; 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.

Executive

In 2010, Mr Zadornov was ranked No.1 in the rating of bank executives compiled by the Kommersant newspaper.

Views

Mr Zadornov is an advocate of the free-market economics and monetarism. He supported and implemented tough fiscal policies when he was finance minister.

Hobbies

When not in the office, Mr 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

Mr Zadornov is married and has a daughter.