Is anyone else missing their business bank manager?

I am an owner/part owner in three businesses and I use the same bank for each of them for business banking. Earlier this year my bank decided to do away with 'relationship managers' for smaller businesses. There was no consultation about this (at least not with me!). I received a letter announcing the change and within a couple of months my relationship manager had moved on.

Progress? A logical step due to increased automation? I think not. I really valued my relationship with my relationship manager. (No pun intended). He had been my contact at the bank for many years. He knew me and my business. We met a couple of times a year for a catch up and he was supportive of my goals and offered good advice when it was needed.

Of course not all relationship managers have been removed. I think there is a turnover threshold of about £1m. If you are in this exclusive group you are allowed to keep your relationship manager. For me and thousands of other business owners we are now left to fend for ourselves. The 'personal' contact with the bank has been removed with the swish of an accountant's pen, or maybe spreadsheet.

So why do I feel that's a backward step? Sure the bank will save millions of pounds in the short term by removing a layer of relatively highly paid managers. But what will they lose? Well here are just a few thoughts:

• Customer retention - my relationship manager was the single biggest factor why I stay with my bank. We are loyal to people, not institutions. No personal contact, less loyalty.
• Less business - my relationship manager was always the first port of call if I wanted to open a new business account, take out a loan or overdraft, extend the scope of my services etc. If I need to do this through the internet or a telephone helpline I am much more likely to shop around
• Referrals - professionals like me refer our clients to our own bank if we like the service. If we don't we are far less likely to refer
• Competition - there is surely an opportunity here for one or more of the other banks to make a big splash about how they are continuing to provide relationship managers. 

I have had my first direct experience of missing my relationship manager this week. My business has been growing well in the last 2 years and I would now like to accelerate things a bit. I have healthy reserves and cash balances but I would like a little contingency to cover some of the expansion costs.

So I am thinking of taking out a relatively small loan just to have in reserve in case the plan goes a bit slower than anticipated. Normally this is something my relationship manager would have dealt with for me. Instead I have had to call a telephone help line. They don't know me or my business and they are just ticking boxes. I'm pretty sure the loan will be approved but there is more form filling, more time invested and, well, it's just a little less customer friendly. 

I think there is a lesson here. Banks need to manage their costs and increasing automation will inevitably reduce some of the 'human' element and personal touch. I believe that the personal element is still very important, particularly in a 'business to business' context. If the banks remove this, without listening to their customers, they should not be surprised if their customers become less loyal.