A. Christopher Jenkins of Wingrave Yeats writes:
Why assume that only a new bank will give you what you now need? Clearing banks are now global businesses with a wide range of services and talented people. It would be strange indeed if there was not someone at your clearing bank, local to you, who could not provide what you are looking for. If your relationship with your bankers is good then they probably know their business and should be able to guide you through your bank’s own hierarchy.
Banks are normally split by three main size criteria, each with their own range of staff and expertise. Usually, but not always, small covers sales of £0-1m, medium is £1m-10m and above £10m is the top end. The large sector is then probably split by specialism and expertise. This differentiator also exists, although less frequently, in the medium sector (for example in media/tech/property/retail and so on), although again banks and regions will differ on this. For example Soho Square in London has one particular branch of a large clearing bank that, because of its location, is exclusively for media companies.
Portfolio sizes differ but obviously the fewer the number, the better the potential service and understanding of the business that the manager can offer. Some banks practice what they call ‘key accounting’ for those clients whom they consider are the most profitable and interesting to the bank (this happens to be the RBS model at medium size level) or else offer a premium service for a fee (the Lloyd's model at this level). If your business falls within either of those categories then it is likely to be given more resources from the bank. This could involve initiatives such as proactive client reviews periodically throughout the year.
As far as questions you should ask, find out who in the bank has the specialist industry knowledge of your business sector. I am constantly heartened to discover how much knowledge these specialists have at their fingertips. Make sure your new manager will have the lending authority appropriate to your strategic plan. There is nothing more frustrating than having a willing bank manager whose requests on your behalf end up being turned down by their own credit people. Finally, make sure you choose a manager with whom you can get on, someone who thinks along the lines that you do. Remember – you are a buyer in this selection process; you should be and can afford to be fussy at this stage of the relationship.