Born in 1959.

In 1986 he graduated from the economics department of Moscow State University. In 1989 received his Ph.D. in Economics.

In 1986–1989, Junior Researcher, Researcher, CEMI (Central Economic and Mathematical Institute), Academy of Science of the USSR.

Jan 1990 — Apr 1991 — Leading specialist, Commission on Economic Reform, Government of the USSR. (Commission of L. I. Abalkina).

Summer of 1990 — Participated in the preparation of the “500 Days” programme.

In April 1991 — May 1993 — Advisor to the Directorate of the Scientific and Industrial Union of the USSR (then — Russian Union of Industrialists and Entrepreneurs).

In May 1993 — March 1995 — Deputy Minister of Finance of Russia, responsible for macroeconomic and tax policy, accounting and negotiations with the IMF; from the summer of 1994 — for budget planning.

Since April 1995 — President of the Russian Association of Currency Exchanges.

In 1995 — General Director of The Scientific Non-Commercial Foundation “Expert Institute” (EXIN), council member.

Dec 1995 — Oct 1998 — First Deputy Chairman, Central Bank of Russia. In charge of Monetary and Exchange rate policy, Accounting, Payment system. Member of the Board of Directors in Sberbank, VTB, Mosnarbank (London), Eurobank (Paris).

2000–2004 — Deputy General Director of Interros holding. In 2004, he was Managing Director of Interros Holding. In 2000–2004 — Deputy General Director, Managing Director, Member of the Board of Directors of Interros Holding Company.

2004–2006, President, member of the Board of Directors of Entente-Capital.

2006–2008, Chaiman and CEO of Merrill Lynch Russia.

2008–2015 — Director for Macroeconomic Research, National Research University Higher School of Economics, Senior Researcher at the Centre for Development Institute.

2008–2012 Member of the Board of Directors in Aeroflot, United Aircraft Corporation, United Grain Company.

2012–2013 – Chair/Vice-Chair of APEC PPF.

2011–2012 — Chairman of the board of directors of United Grain Company.

Since 2013 — Senior Researcher at the Brookings Institution (The Brookings Institution) in Washington.

Author of the book “Battle for the Rouble/ Battle for the Rouble / Bitva za rubl” (Moscow, 1999).

Lives in Washington.