HSBC Appoints CBRE as Global Property Advisor
HSBC Appoints CB Richard Ellis Group, Inc as Global Property Advisor for 72 Million Sq Ft Portfolio
London, 1 August 2011 – CB Richard Ellis Group, Inc. (NYSE:CBG) today announced that it has been appointed by HSBC to serve as Global Strategic Property Portfolio Manager and Regional Transaction Partner in the Europe, Asia, North America and Latin America regions. HSBC’s global property portfolio comprises more than 7,500 properties with approximately 72 million sq ft located in 87 countries.
CBRE has been selected as the exclusive Global Strategic Property Portfolio Manager and the exclusive Regional Transaction Partner in Europe. CBRE will be a Shared Delivery Partner for transactions in Asia Pacific, North America and Latin America.
Tony Buckham, Global Head of Corporate Real Estate, HSBC, said: “After conducting a thorough global review, we are excited to announce this strategic partnership with CBRE. With the excellent experience of CBRE’s Portfolio Management team, we will develop significant benefits and synergies from deploying on a global scale. By linking good data and management information with best-in-class, on-the-ground delivery through our transaction partner, we will be providing a robust yet agile support function for our business operations across 87 different countries in a wide variety of property types”.
Mike Strong, EMEA Chairman and CEO, CBRE, said: “This fresh approach and global mandate will enable HSBC to drive accelerated cost savings and optimise its occupational holdings worldwide, further advancing the performance of its business and shareholder return. We are delighted to have the honour to work alongside HSBC and to extend our relationship.”
CBRE’s contract will provide HSBC with a leading technology solution and integrated data management platform, covering its portfolio and transaction management globally. Advances in management information provide the foundation for better portfolio planning and optimisation on a global, regional and local level. This platform will also integrate the activities of all of HSBC’s Regional Transaction Partners.
This appointment expands upon and consolidates CBRE’s existing relationship with HSBC across numerous locations worldwide. In the EMEA region, CBRE is already responsible for integrated Transaction and Portfolio Management in the UK and Portfolio Management in France.