BY STAFF REPORT
United States’ real estate services firm Jones Lang LaSalle has landed an outsourcing contract with British financial service firm HSBC. Under the agreement, LaSalle will provide real estate management services for HSBC’s 11,000 facilities around the globe.
Jones Lang LaSalle has described the deal as ‘the largest global facility management outsourcing contract’ but has not disclosed the financial details of the agreement.
“This is the largest facility management contract awarded to a single provider on a global basis by a financial services firm,” the US Company stated in a press release.
The contract, analysts say, will help the global banking giant focus its attention and resources on core functions.
“Our global team is focused on improving the productivity of HSBC’s real estate through operational efficiency across its global workplaces,” said Colin Dyer, President and CEO, Jones Lang LaSalle.
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 Jones Lang LaSalle’s responsibilities, and renews existing facility management services in North America, China, Thailand, Mexico and Panama.
“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,” said Tod Lickerman, CEO of Jones Lang LaSalle’s Americas Corporate Solutions business.