CHICAGO - HSBC has selected Jones Lang LaSalle as its sole global outsourcing provider of integrated facility management services across its 58 million-square-foot real estate portfolio.
This is the largest real estate facility management contract awarded to a single provider on a global basis by a financial services firm.
Jones Lang LaSalle will manage the bank’s 11,000-site portfolio throughout North America, Latin America, Asia Pacific, Europe, Middle East and Africa.
Jones Lang LaSalle has been a real estate advisor to HSBC in North America since 1998. The contract adds more than 42 million square feet of real estate worldwide to its responsibilities, and renews existing facility management agreements in North America, China, Thailand, Mexico and Panama. Jones Lang LaSalle also acts as one of HSBC’s regional transaction partners, serving its Asia Pacific, Latin America and Middle East-North Africa regions.
“Jones Lang LaSalle and HSBC are committed to introducing innovative solutions that advance the performance of real estate as a driver of measurable business improvements,” Colin Dyer, President and CEO, Jones Lang LaSalle, says in a press release. “Our global team is focused on improving the productivity of HSBC’s real estate through operational efficiency across its global workplaces.”
Outsourcing non-core real estate functions to third-party experts has increased in recent years as service providers have attempted to expand their abilities to deliver consistent services across broader geographies.
Jones Lang LaSalle has formed a team of experts led by Bill Thummel, along with Global Managing Director Chris Kiernan and Global Director of Operations Ian King, to serve the expanded global account responsibilities for HSBC. The firm will create a technology platform that lets HSBC manage, compare and benchmark performance across its global portfolio.
“In the Americas, we will leverage our supply chain economies of scale to improve the performance of some 500 HSBC facilities in North America and an additional 4,000 more throughout Latin America,” Tod Lickerman, CEO of Jones Lang LaSalle’s Americas Corporate Solutions business, says in the release. “This contract will deliver consistency throughout HSBC’s locations in the Americas and around the globe.”
Jones Lang LaSalle’s Corporate Solutions business helps firms improve productivity in the cost, efficiency and performance of their national, regional or global real estate portfolios by creating outsourcing partnerships to manage and execute a range of corporate real estate services.