No. 1LondonMonday 2 November 2026Est. 2026

The Secret Banker

What the big banks charge, found from public information as best I could, with the source under every figure. And a Panel.

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The Panel

Six firms I deal with. Terms as discussed with me. They sit in their own tables on every page and nowhere else.

Harrowgate Lennox

A lobby people photograph, and a pitch team of eleven who rarely see it.

Minimum £1.35bn deal size · IPO 3.84% to 4.69%

Thornleigh Aubert

A long tradition of never quite saying no.

Minimum CHF 9m · Discretionary 0.64% to 0.37% by tier

Lockridge Hartwell

American to the core and billing in quarter hours, including the quarter hour spent reading this.

Minimum $1.85bn deal size · IPO 6.77% to 7.22%

Dunmore & Rook

Proudly independent, right up to the fee letter.

Minimum £150m deal size · M&A 1.81% success fee

Marchbank Private

A royal warrant, a brass plate and a door with the minimum on it.

Minimum £9m · Discretionary 0.56% to 0.26% by tier

Linnet

The challenger, with a chatbot called Ned who is always available and occasionally right.

Minimum £400,000 · 0.29% platform fee, funds extra