PwC, KPMG and EY to exit Russia
The three Big Four firms will continue to support all colleagues impacted by the decision
PwC, KPMG and EY have announced they are to cease their operations in Russia amid the country’s ongoing invasion of Ukraine.
PwC has confirmed that it will cut its member firm, PwC Russia, from its network, adding that as it implements these measures, the firm will “maintain its focus on helping its Ukrainian colleagues and support the humanitarian efforts to aid the people of Ukraine who have been devastated by this invasion”.
Bob Moritz, global chairman of PwC, said that helping Ukrainian colleagues is just part of the firm’s responsibility and PwC is “committed” to working with its colleagues at PwC Russia to undertake an “orderly transition” for the business and focus on the wellbeing of all 3,700 colleagues in PwC Russia.
KPMG correspondingly said its sites in Russia and Belarus will also leave the KPMG network. With over 4,500 people in Russia and Belarus, KPMG underlined that ending its working relationship with many of whom have been a part of KPMG for many decades, is “incredibly difficult.”
However, the firm said it believes it has a “responsibility”, along with other global businesses, to respond to the Russian government’s ongoing military attack on Ukraine.
KPMG also said it will seek to do all it can to ensure it provides transitional support for former colleagues impacted by the firm’s decision.
A spokesperson from KPMG said: “This decision is not about them – it is a consequence of the actions of the Russian Government. We are a purpose-led and values-driven organisation that believes in doing the right thing.”
Additionally, EY has also commenced a restructuring of its Russian member firm to separate it from the global network. The EY global organisation will no longer serve any Russian government clients, state-owned enterprises or sanctioned entities and individuals anywhere in the world.
EY said it will continue to support 700 EY colleagues with financial support, relocation, transportation and immigration services. In addition, the global EY network has offered refugee support, including logistical assistance, volunteer work and financial donations to the wider Ukrainian community.
The firm currently has over 4,700 colleagues in Russia who have been a part of the global network for over 30 years.
EY said: “As the shocking and abhorrent war in Ukraine continues to escalate, our priority continues to be the safety of our people in Ukraine, Eastern Europe and across the region, and actively supporting those impacted.
“The resulting suffering of this conflict across Ukraine, Eastern Europe and elsewhere is deeply concerning to all of us at EY. We strongly encourage all parties to urgently work towards a peaceful resolution in Ukraine.”
