In this episode of the iPartners Grow Your Wealth podcast, host Travis Miller sits down with Steve Lambert, a banking veteran with more than three decades of international experience across financial markets, risk management, impact investing and advisory. From humble beginnings in Sydney’s eastern suburbs to leadership roles across Asia and Australia, Steve reflects on the experiences, relationships and lessons that shaped his career. Through stories of resilience, global markets and mentoring others, the conversation highlights the importance of curiosity, long-term thinking and creating meaningful impact beyond financial returns.
Early Foundations and Education: Growing up in Maroubra and becoming the first person in his family to complete university, Steve’s journey was built on hard work and self-belief rather than privilege. Studying economics and econometrics proved to be a defining decision, providing a framework for understanding markets and developing the analytical skills that would underpin his future success. Looking back, he reflects that dropping a commerce and law degree in favour of economics was “the best decision made for the wrong reasons”, illustrating how career paths often evolve in unexpected ways.
Learning Through Diverse Experiences: Before entering banking, Steve worked a wide variety of jobs to fund his studies, from truck driving and factory work to assisting a private investigator. These experiences exposed him to different perspectives and taught lessons that extended far beyond the classroom. Working in insurance fraud investigations developed an appreciation for downside risk and human behaviour, while years of balancing work and study instilled a strong work ethic and resilience that later became invaluable in financial markets.
Building an International Banking Career: What began with an unexpected opportunity at Westpac evolved into a career spanning Japan, Hong Kong, New York and Asia’s major financial centres. Steve spent fifteen years with Westpac and two decades with NAB, specialising in derivatives, structured products and debt markets. His international experience during periods of volatility, including the Asian financial crisis, shaped his understanding of risk and reinforced the reality that markets reward discipline rather than certainty. Being immersed in different cultures and financial systems broadened his perspective and provided invaluable experience that could never be learned from textbooks alone.
The Influence of Mentors and Teams: Throughout the conversation, Steve emphasises that success is rarely an individual achievement. Influential leaders such as Darcy Ford recognised potential in him early and challenged him to think strategically beyond his immediate role. Equally important were the colleagues and teams around him. He reflects that he learned as much from people below him as from those above him, and sometimes the greatest lessons from leaders involved understanding what not to do. This humility and willingness to learn from everyone became a recurring theme throughout his career.
Navigating Risk and Setbacks: Having worked through the Asian financial crisis, Steve understands that taking risk inevitably involves mistakes. Some market positions proved highly successful, while others produced painful losses. He recalls losing an entire annual profit target in just two days during extreme market movements, an experience that reinforced the importance of humility and risk management. Rather than avoiding setbacks, he believes they are essential teachers, and that time, perseverance and reflection are often the only remedies after difficult periods. The experience taught him that even when the macro view is correct, timing and positioning remain critical.
Identifying Long-Term Themes and Impact Investing: One of the distinguishing features of Steve’s career has been his focus on understanding large structural trends. Long before environmental and social finance became mainstream, he recognised that sustainability and social outcomes would become increasingly important. This thematic approach led him into impact investing, renewable energy finance and social bonds. While many initially focused on environmental initiatives, Steve found himself increasingly drawn to social outcomes and the ways finance could contribute to broader societal benefits. His involvement with the United Nations Finance Initiative and the development of social bonds at NAB reflected a belief that commercial success and positive impact can coexist.
Life Beyond Corporate Banking: Following his banking career, Steve transitioned into advisory, board and mentoring roles across fintech businesses, funds management and specialist lending. Rather than viewing retirement as slowing down, he sees it as an opportunity to continue learning and contributing. Advising founders and supporting emerging businesses has become a natural extension of his leadership style. For those leaving large organisations, he believes success requires remaining curious, developing breadth beyond technical expertise and ensuring values align with the people they choose to work with. Patience and choosing the right opportunities matter far more than rushing into the first available role.
Creating High-Performing Teams: Reflecting on what worked best throughout his career, Steve points not to individual transactions but to building teams united by shared goals and purpose. He believes in balancing deep expertise with broad understanding, encouraging people to think beyond their immediate responsibilities and understand adjacent areas of knowledge. His philosophy is simple: “If I’m not studying, I’m teaching.” This mindset of continual learning helped create teams that embraced innovation and delivered consistent results, even when others remained sceptical. For leaders, the challenge is not simply finding talented people but helping them grow into roles they may not yet fully envision for themselves.
Business Strategy and Long-Term Thinking: Throughout the discussion with Travis Miller on the iPartners Grow Your Wealth podcast, Steve stresses the importance of understanding macroeconomic trends while remaining focused on practical execution. He encourages business owners to think through multiple scenarios, stress test assumptions and avoid becoming trapped by short-term noise. Combining instinct with data creates better decisions, while understanding where industries are heading allows businesses to position themselves ahead of change. In lending and financial services, success often comes not from competing directly with large institutions, but from identifying opportunities where incumbents are absent or evolving.
Family, Success and Legacy: Today, Steve’s definition of success has shifted away from financial metrics and towards family, relationships and helping others. Supporting his three sons as they pursue careers and entrepreneurial ventures across the world brings him far more satisfaction than spreadsheets and balance sheets. Whether mentoring founders, encouraging younger professionals or simply sharing insights with family, he sees contribution and service as the ultimate measures of achievement. Money remains important, but only as a by-product of doing meaningful work well.
Final Thoughts: In this insightful episode of the iPartners Grow Your Wealth podcast, Travis Miller uncovers the principles that have guided Steve Lambert through decades of financial markets, leadership and entrepreneurship. From taking personal risks and embracing lifelong learning to understanding big-picture trends and helping others succeed, Steve’s journey demonstrates that wealth creation is a long-term endeavour built on curiosity, resilience and relationships. Ultimately, success is not measured by short-term gains but by the impact we have on the people around us and the legacy we leave behind.
