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Colliers discontinues operations in Russia and Belarus

Colliers has discontinued its business in Russia and Belarus after more than 28 years of operations, and have suspended operations in the Ukraine affiliate office.



HONG KONG, 8 March 2022 – 
Leading diversified professional services and investment management firm Colliers (NASDAQ and TSX: CIGI) 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. Colliers fully supports all appropriate sanctions enacted by the international community and, in response to the gravity of Russia’s aggression, has discontinued its business in Russia and Belarus, effective immediately, after more than 28 years of operations.

“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 | Colliers.

Colliers continues to prioritise the safety and welfare of its people and clients in Ukraine, as well as in the broader Central & Eastern European region. As a result of this crisis, Colliers’ affiliate office in Kyiv is closed and all business operations there have been suspended. They are focused on supporting their Ukrainian colleagues who remain in country, those who are seeking refuge, and the families of their people who have been affected. Colliers’ operations in neighbouring countries are actively providing temporary accommodation, monetary support and other necessities.

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 its people through the Colliers Crisis Fund to maximise support toward humanitarian relief.

 

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Media Contact:

Emma Flowers
Danielle Paterson