Colliers discontinues operations in Russia and Belarus
Colliers, a leading professional services and investment management company, has condemned the Russian invasion of Ukraine and ceased operations in Russia and Belarus after 28 years. The company expresses sorrow for the humanitarian crisis, asserting its commitment to supporting affected colleagues. Colliers has made significant donations to the Ukraine Crisis Appeal and is matching employee contributions through its Colliers Crisis Fund. With annual revenues of $4.1 billion, Colliers aims to maximize support for those in need amidst the ongoing conflict.
- Colliers continues to prioritize the welfare of its employees and clients in Ukraine and the surrounding regions.
- The company has committed to significant donations for humanitarian relief through the Ukraine Crisis Appeal.
- Immediate cessation of operations in Russia and Belarus may impact revenue streams.
- Closure of the Kyiv office suspends all business operations, affecting local market presence.
TORONTO, March 07, 2022 (GLOBE NEWSWIRE) -- Colliers stands with the people of Ukraine, an independent country, and strongly condemns the invasion by the Russian military. These actions are indefensible and in complete contrast to the principles of democracy and freedom. We fully support all appropriate sanctions enacted by the international community and, in response to the gravity of Russia’s aggression, Colliers has discontinued its business in Russia and Belarus, effective immediately, after more than 28 years of operations. We thank our former colleagues and partners for their work over the years and wish them well as they navigate the future.
“I am appalled and saddened by the unnecessary loss of life and the displacement of millions of Ukrainians from their home. We cannot and will not stand idly by. Our decision to exit Russia and Belarus is one we make with conviction,” said Jay Hennick, Global Chairman & Chief Executive Officer of Colliers.
Colliers continues to prioritize the safety and welfare of our people and clients in Ukraine, as well as in the broader Central & Eastern European region. As a result of this crisis, our affiliate office in Kyiv is closed and all business operations there have been suspended. We are focused on supporting our Ukrainian colleagues who remain in country, those who are seeking refuge, and the families of our people who have been affected. Our operations in neighbouring countries are actively providing temporary accommodation, monetary support and other necessities. We are moved by the outpouring of support from Colliers people around the world who have reached out to help in every possible way.
The company and members of senior leadership have made significant donations to the Ukraine Crisis Appeal via the International Committee of the Red Cross and other humanitarian charities. Colliers is also matching donations from our people through the Colliers Crisis Fund to maximize support toward humanitarian relief.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 64 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of
Media Contact:
Andrea Cheung
Global Senior Manager, Global Integrated Communications
Andrea.Cheung@colliers.com
(416) 324-6402
FAQ
What is Colliers' response to the invasion of Ukraine?
How is Colliers supporting employees affected by the Ukraine crisis?
What financial contributions has Colliers made in response to the Ukraine crisis?
What was Colliers' revenue for the last year?
How long has Colliers operated in Russia and Belarus?
