Standardbearer (less commonly spelled standard-bearer) is an appointed, highly-respected position in the Black Company. The standardbearer travels with, and leads the band into battle holding, the Company standard, which is affixed to a crosspiece hanging from the ancient Lance of Passion (the Company's single most important historical artifact). For many years, Murgen was standardbearer; his predecessor was not identified in the available Annals. After he became one of the Captured at the end of She Is the Darkness and the Lance was lost for years, Sleepy inherited the role. When the Company acquired the golden pickax in Water Sleeps, Tobo effectively played the role of standardbearer, especially during their passage across the glittering plain.
Lady – who was Black Company Captain for several months and who had read Croaker's Annals – wrote of the role's historical importance within the group in Dreams of Steel (chapter 58):
| “ | Murgen... had been the Company standardbearer and Croaker’s understudy as Annalist. In the normal course twenty years down the road he might have become Captain. | ” |
At various times during the Company's history the standardbearer has held more than one position. For example, Murgen was both Annalist and standardbearer.
By the events of Bleak Seasons, Murgen had grown disillusioned with the responsibility, summing up the job as follows:
| “ | The standardbearer is always the first guy into a scrape and he always has one hand tied up keeping a bigass pole from falling over. | ” |