CB Richard Ellis and Jones Lang LaSalle have been appointed global property advisers to banking giant HSBC.

CBRE has been chosen by the bank as its global strategic property portfolio manager, and both CBRE and JLL will act asits regional property transactions partners, as its looks to streamline its property options around the world.

CBRE will offer support and advice to the bank’s corporate real estate team on overall portfolio strategy and manage the portfolio database of over 7,500 properties globally. The CBRE portfolio management contract is worth approximately US$10m over five years, the bank said.

The regional transaction partnership roles will deliver a global standard operating procedure and provide in-country delivery capacity and key property market knowledge for transactions and portfolio events such as acquisitions, disposals, lease renewals and other tactical delivery requirements, HSBC added.

Under the new arrangements, HSBC’s strategic regional transaction partners will be:

JLL and CBRE in Asia Pacific, excluding Hong Kong; CBRE in Europe; JLL in the Middle East and North Africa; CBRE, JLL, Cushman & Wakefield, and Colliers in Latin America; and JLL and CBRE in North America.

Due to HSBC’s extensive presence throughout Latin America, including many emerging geographies, four suppliers have been selected to provide full coverage for the region, the bank said.

Tony Buckham, global head of commercial real estate at HSBC, said: “This will support the corporate real estate function in focusing on internal business relationship management, strategy and portfolio planning. It will drive a consistent best in class delivery methodology utilising standard operating procedures across a reduced and aligned supplier base, supported by a common core data system. The structure and supplier partnerships will help drive change and operational efficiency in our specialist area, leading to significant sustainable cost savings and, more importantly, deliver a measurable improvement in the service we provide to our internal and external customers.”

Vincent Lottefier, chief executive of EMEA Corporate Solutions at Jones Lang LaSalle, said: “We are delighted to have been appointed to work with HSBC and look forward to supporting them across the MENA region and beyond. Our intention is to provide best-in-class support to enable the HSBC Corporate Real Estate function to deliver an excellent service to its internal clients.”