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HSBC Holdings PLC Appoints CB Richard Ellis Group, Inc. as Global Real Estate Advisor for 72 Million Sq Ft Portfolio

^{Published on 2011-07-28 21:40:52 - Market Wire}
 

LONDON--([ BUSINESS WIRE ])--CB Richard Ellis Group, Inc. (NYSE:CBG) today announced that it has been appointed by HSBC Holdings PLC (HBC.N) to serve as Global Strategic Property Portfolio Manager as well as regional transaction partner for the banka™s properties in Europe, Asia, North America and Latin America.

"This global mandate will enable HSBC to drive accelerated cost savings and optimize its occupational holdings worldwide, further advancing the performance of its business. We are delighted to work alongside HSBC and to extend our relationship with the bank."

As the exclusive Global Strategic Property Portfolio Manager, CB Richard Ellis will advise HSBC on its global property portfolio, which comprises more than 7,500 properties in 87 countries, totaling approximately 72 million sq ft. CB Richard Ellis will also serve as HSBCa™s exclusive regional transaction partner in Europe, and will share service delivery for transactions in Asia Pacific, North America and Latin America.

Tony Buckham, Global Head of Corporate Real Estate, HSBC, said: aAfter conducting a thorough global review, we are excited to announce this strategic partnership with CBRE. With the excellent experience of CBREa™s portfolio management team, we will derive 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 and a wide variety of property types.a

Mike Strong, EMEA Chairman and CEO, CB Richard Ellis, said: aThis global mandate will enable HSBC to drive accelerated cost savings and optimize its occupational holdings worldwide, further advancing the performance of its business. We are delighted to work alongside HSBC and to extend our relationship with the bank.a

This appointment expands upon and consolidates CB Richard Ellisa™ existing relationship with HSBC across numerous locations worldwide.CB Richard Ellis is already responsible for integrated transaction and portfolio management in the UK and portfolio management in France.

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the worlda™s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at [ www.cbre.com ].

About HSBC Holdings

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,598bn at 31 March 2011, HSBC is one of the worlda™s largest banking and financial services organisations. HSBC is marketed worldwide as athe worlda™s local banka™.