Optimizing real estate portfolios
Portfolio assessment and optimization, with implementation plan
A large European retail bank with a vast portfolio of real estate assets in several countries had become fragmented in a number of ways. Its footprint was widely dispersed as a result of poorly integrated acquisitions and limited cross-business-unit occupation of buildings. Further, the geographic fragmentation mirrored an internal lack of coherence: The bank had a relatively fragmented supplier base for some important high-spend categories, business units used varying supplier models (some in-house, some outsourced), and the organization structure lacked clearly defined reporting lines. Finally, there was no overarching, group-wide vision for the properties or the services. The bank asked Strategy& to help improve the efficiency and effectiveness of the real estate function, including facilities management.
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