HSBC Commits to JLL

HSBC has extended its global real estate facilities management agreement with JLL.
HSBC Headquarters

HSBC Headquarters

HSBC has extended its global real estate facilities management agreement with JLL to 2021, beyond its original 5-year term.

“The decision to extend the contract early is testament to the strength of our partnership and the benefits that HSBC is already seeing as a result,” Colin Dyer, JLL’s president & CEO, said in a prepared release. “We look forward to continuing to deliver benefits through the comprehensive services our talented team provides HSBC.”

The extension of HSBC’s 55 million-square-foot global real estate portfolio marks the largest global facilities management outsourcing contract in the financial services industry, and allows both parties to build on the transformation that has taken place since 2013.

“JLL worked in partnership with HSBC to improve service, lower risk, and reduce costs,” Bill Thummel, JLL’s global account director, said in the release. “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 $50 million.”

JLL’s global approach has provided consistent service delivery and global visibility of cost, compliance, and performance. A key factor in achieving these results is the consolidation from 1,300 facilities management suppliers to one, covering 97 percent of the Bank’s portfolio.

“We are able to commit to saving HSBC more money because we can see the value of the data we have collected and the tools we have developed,” Thummel said. “This data will help us deliver more efficiently and effectively.”