Willis Towers Watson has announced it will withdraw from all of its businesses in Russia, following the country’s attack on Ukraine.
A statement brings it in line with its main competitors, Aon and Marsh McLennan. Aon announced it was suspending its Russian operations last week, while Marsh McLennan is also exiting the market.
WTW CEO Carl Hee says: “While we strongly believe this is the right decision, it was not made in haste nor without consideration for our Russian colleagues.” The ownership of WTW’s Russian businesses will transfer to local management who will operate independent in the Russian market. This is the same approach that has been taken by Marsh McLennan.
Dan Glaser, Marsh McLennan’s president and CEO added, “We condemn the unprovoked attack by the Russian government against the people of Ukraine. Having watched with horror the tragic human toll in Ukraine, we feel compelled to take this action.
“This is not a decision that we have taken lightly, and we join all those calling for a swift and peaceful resolution to this deadly conflict.”