Education and early career
Mr. Vyugin graduated from the Moscow State University in 1974. In 1977 he completed his graduate studies in physics and mathematics the same university.
From to 1978 to 1988 Mr. Vyugin worked as an academic at various economic research institutes.
From 1989 to 1993, he was Chief Researcher at the Russian Academy of Sciences’ Institute of Economic Forecasting.
In 1993, Mr. Vyugin was appointed Head of the Macroeconomic Policy Department at the Russian Ministry of Finance. In 1994, he became a member of the board of the Ministry of Finance. From 1996 to 1999, he served as Deputy Minister of Finance, and in 1999 was appointed First Deputy Minister. In 1999, Mr. Vyugin became Chief Economist and Executive Vice President of Troika Dialog.
In 2002, he was appointed First Deputy Chairman of the Central Bank of Russia responsible for monetary policy.
Head of the Federal Financial Markets Service
On March 23, 2004, Mr. Vyugin was appointed Head of the Federal Financial Markets Service (FFMS). He was regarded as a reformer and has implemented several changes to Federal laws to facilitate public offerings in the Russian market. He is a strong supporter of the domestic stock markets and criticised both issuers and investment banks for listing companies with predominantly Russian assets on foreign exchanges without listing in Russia. On May 10, 2007, Vyugin left his position in the Federal Financial Markets Service, succeeded by Vladimir Milovidov.