Ernst & Young in Russia renamed to "B1"

The Russian division of the audit and consulting company Ernst & Young (EY) will continue to work under the new name "B1".

Back in March, the company announced that its Russian representative office would continue to operate as an independent organization not included in the EY international network, Kommersant reports.

“Companies under the new B1 brand will continue to work with clients as a group of audit and consulting companies that are not part of the EY international network,” the EY press service told Interfax. The exact timing of the launch of the Russian division after the rebranding has not yet been reported.

Earlier, EY's Russian legal entity Ernst & Young LLC was renamed into Centre for Audit Technologies and Solutions - Audit Services LLC. Representatives of the company explained that this is a temporary name.

The rebranding strategy with the subsequent separation of the Russian division of the company from the international infrastructure is one of the most common ways for foreign companies to partially continue their activities in Russia.