CHICAGO, Jan. 23, 2013 /PRNewswire/ -- Jones Lang LaSalle (NYSE: JLL) today announced that global bank HSBC has selected the firm as its sole global outsourcing provider of integrated facility management services across its 58 million-square-foot real estate portfolio. This is the largest facility management contract awarded to a single provider on a global basis by a financial services firm.
The practice of outsourcing non-core real estate functions to dedicated third-party experts has increased in recent years as service providers have attempted to expand their abilities to deliver consistent services across broader geographies and corporations have better understood the productivity benefits of outsourcing. With its ability to deliver real estate services across such a large and diverse global portfolio, Jones Lang LaSalle is on the forefront of the global outsourcing trend. HSBC's pioneering decision to outsource facility management services worldwide is designed to increase operational efficiency and consistency across its 11,000-site portfolio throughout North America, Latin America, Asia Pacific, Europe, Middle East and Africa.
"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. 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. 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.To service this expanded program, Jones Lang LaSalle will implement its leading technology platform that allows HSBC to manage, compare and benchmark performance consistently across its global portfolio.