The Russian partner of Deloitte, one of the world’s leading consulting and accounting firms, has resumed its operations under a new brand name, the Kommersant business daily reported Tuesday.
The British consultancy giant suspended operations in Russia and Belarus in early March in response to Russia’s invasion of Ukraine and vowed to separate local practices in the two countries from its global network of member firms.
Deloitte’s former Russian business, which employs more than 2,000 people across eight cities, will operate independently under the brand name Business Solutions and Technologies, Kommersant reported.
Yekaterina Ponomarenko, the former CEO of Deloitte’s regional practice, will retain her post in the newly established Russian company, according to public registration records.
The Big Four accounting and consulting firms halted operations in Russia in response to the Ukraine war.
Out of those four firms' local branches, three have rebranded and resumed operations.
PwC's former Russian business will operate under the name “Technologies of Trust,” while EY's former Russian unit will now be known as “Audit Technologies and Solutions Center - Audit Services.”
Hundreds of Western brands have exited the Russian market in response to the Kremlin’s military campaign in the neighboring Ukraine.
While some businesses such as the U.S. coffee giant Starbucks shuttered their Russian operations completely, others have looked to sell licenses to local buyers that will continue operations under a new name and business entity.
The U.S. fast-food giant McDonald’s last week announced the sale of all 850 of its Russian locations to Siberian businessman Alexander Govor. The chain’s former restaurants are due to reopen under a new name and with a new menu later this year.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
