Fear not IV, it doesn't mean jack squat. We got shunted through there 7 years ago and all it means is that you've outgrown one fishpond and they've dumped you out of the normal "relationship manager" who has about 500 to 600 clients to look after, and you've been upgraded to a "private banker" fishpond who has between 80 and 90 to look after. Admittedly, slightly more personal service, but nothing extraordinary. You will be bombarded with all of their 'special deals'.
If you keep your head down, bum up, in a couple of more years time they'll scoop you out of that pond and chuck you into "institutional banking" where you will be one of about 15 or 20. That's when you get upgraded from Granita or Milk Arrowroots with your cuppa, to perhaps a Kingston Cream. Fear not, the Tim Tam's are still off limits.
But what does it all mean IV ?? It means absolutely nothing IV. They've still all got absolutely no decision making powers at all. They still all package your paperwork off into a nice neat bundle for the credit squirrels in their dark silent room to pour over. You still won't be able to negotiate with them, and a rejection from your Private Banker on a nice thick custom paper with the silver livery is just the same as one received on the bog standard A4 black and white version.