LONDON—HSBC has extended JLL's facilities management contract across its 55-million-square-foot global real estate portfolio until 2021, three years beyond its original expiration date. Reportedly the largest global facilities management outsourcing contract in the financial services industry, the agreement has been in place since 2013.

"We've worked in partnership with HSBC to improve service, lower risk and reduce costs," says Bill Thummel, global account director at JLL. "Employees' satisfaction with the service provided has increased steadily over the past two years, the management and control of key risks has been significantly enhanced, and sustainable savings created for the bank are in excess of the initial target of US$50 million."

The extension of the HSBC contract marks JLL's third multinational facilities management assignment in the past two months. In late November, Thales Group appointed JLL and Cushman & Wakefield to jointly provide real estate services for its portfolio outside France, including transaction management, property valuation and capital markets services. Thales' global portfolio of office and industrial space exceeds 15 million square feet.

Late October saw JLL winning a five-year contract with Aon, the risk management services provider's first regional outsourced contract in Continental Europe. JLL will provide integrated facility management services for Aon's two million-square-foot portfolio spanning 172 buildings in 30 countries including Belgium, France, Germany, Italy, the Netherlands, Poland, Spain and Switzerland.

Instant Insights /

HSBC Extends JLL Service Mandate

Related Stories

Recommended For You