HSBC Plans Hire of CBRE, JLL for 72M SF

LONDON-HSBC, based here, has issued letters of intent to appoint both CB Richard Ellis and Jones Lang LaSalle to handle work on 72 million square feet of office and retail space around the world. If the contracts go through, CBRE will act as global strategic property portfolio manager and will join Jones Lang LaSalle as regional property transaction manager.

In the split of work, CBRE will continue to handle all property in Europe, while JLL will handle all property in the Middle East and North Africa. The two will handle separate accounts in Asia and North America, except in Hong Kong, where EC Harris and Knight Frank will continue to provide management services. Due to HSBC’s extensive presence in Latin America, the financial firm has asked CBRE, JLL, Cushman & Wakefield and Colliers International to provide property services across the continent.