Jones Lang LaSalle has announced that HSBC is renewing its five-year, integrated real estate services contract with the firm for its eight-million-square-foot portfolio in the United States and is expanding the geographic scope to include an additional two-million-square-foot portfolio in Canada. Jones Lang LaSalle has received a letter of intent from HSBC and full contract execution is expected in the following weeks. This expanded relationship continues to support HSBC’s strategy of creating capacity for smart growth through the reduction of costs by standardizing processes and leveraging its global scale.
Jones Lang LaSalle has been a real estate advisor to HSBC in North America since 1998, and also manages part of HSBC’s retail bank locations and office portfolios in Latin America. HSBC also appointed Jones Lang LaSalle as one of two strategic regional transaction partners and the firm will also serve its Asia Pacific and MENA regions.
Jones Lang LaSalle has formed an integrated team of experts, led by Ed Cannon, Bryan Jacobs, John Minks, and Bill Thummel, to serve the expanded account responsibilities in the Americas for HSBC.
“Jones Lang LaSalle has created a unique team and savings structure that will satisfy HSBC’s requirement of allowing each site within its United States and Canada portfolio to capitalize on economies of scale to drive centralized process, alignment, and innovation that work together to generate significant savings,” said Tod Lickerman, chief executive officer, Corporate Solutions at Jones Lang LaSalle. “Drawing from our strong depth of expertise within the financial services sector, our partnership ensures that HSBC will benefit from leading-edge strategies that support the company’s integration, efficiency and cost optimization goals.”
Jones Lang LaSalle’s work on behalf of HSBC in North America will include integrated facilities management, transaction management, lease accounting, strategic consulting, occupancy planning, predictive analytics and project and development services throughout the region.
Jones Lang LaSalle’s Corporate Solutions business helps corporations improve 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 occupier services. This service delivery capability helps create new client relationships, particularly as companies turn to the outsourcing of their real estate activity as a way to manage expenses and enhance productivity and profitability.