[1] He was awarded a doctor of economics degree from the Moscow Finance Institute and authored over 200 publications.

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.

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.

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.