CHICAGO—HSBC has hired locally based Jones Lang LaSalle to manage its 58-million-sq.-ft. global portfolio.

JLL 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. JLL also acts as one of HSBC’s regional transaction partners, serving its Asia Pacific, Latin America and Middle East-North Africa regions.

The deal is the largest facility management contract awarded to a single provider on a global basis by a financial services firm, said JLL officials. Just in the Americas, JLL will work to improve the performance of about 4,500 facilities, said Tod Lickerman, CEO of Jones Lang LaSalle’s Americas Corporate Solutions business. “This contract will deliver consistency throughout HSBC’s locations in the Americas and around the globe,” he said.

JLL has formed an integrated global account team of experts led by Bill Thummel, along with Global Managing Director Chris Kiernan and Global Director of Operations Ian King, to serve the expanded global account responsibilities for HSBC. “As real estate is typically the third-largest operating cost for companies, our ability to deliver more efficient real estate operations will benefit HSBC’s overall productivity and business performance,” Thummel said in a statement.