Colliers Stops Operations in Russia and Belarus

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, according to a press statement by the professional services and investment management company that is active in Hungary as well.

The statement says they 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.

Colliers expresses thanks to former colleagues and partners for their work over the years and wishes 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,” Global Chairman & Chief Executive Officer of Colliers, Jay Hennick said in the statement.

It continues to state that "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 its staff members through the Colliers Crisis Fund to maximize support toward humanitarian relief.