In 1992, a young history graduate walked nervously through the doors of NatWest’s imposing headquarters. She had no grand plan to become the first woman to lead a major UK bank. In fact, she thought she’d be there for maybe two or three years before moving on to something else entirely.
“The building looked quite intimidating,” Dame Alison Rose recalls of that first day. “I had no idea what I was getting into.”
Thirty years later, she would make history as CEO of that same institution. But her journey to the top wasn’t about plotting a careful ascent or following a predetermined career map. It was about staying curious, learning from everyone around her, and focusing on doing the next job well rather than positioning herself for the one after that.
Her story challenges everything we think we know about leadership development. The most effective leaders, it turns out, aren’t necessarily those who chart their course from day one—they’re the ones who remain genuinely committed to learning and growing, no matter where that path leads them.
The Intimidating Beginning
That first day felt “like the first day of school again,” Dame Alison remembers. The mix of excitement and terror that anyone starting a new career will recognise.
Banking, she quickly discovered, was “surrounded by jargon.” You could study it from the outside, but “it’s only really when you get to do the job you understand what it’s about.”
Her plan was modest. Stay for a couple of years, learn what she could, then figure out what came next. She never imagined she’d still be there three decades later, much less running the place.
“I really thought I’d be in banking for two to three years and then go and do something else,” she admits.
Learning from Multiple Masters
What transformed Dame Alison’s uncertainty into expertise was NatWest’s graduate programme structure. As an analyst associate, she found herself working with several managing directors, each with completely different approaches to leadership.
“They’re all completely different and they all have completely different ways of doing things,” she observed. At first, this was maddening. One person would ask her to tackle a project one way, another would want it done entirely differently.
But then she realised something important. This wasn’t a problem—it was an opportunity.
“Actually, it was a brilliant learning experience because, as you went through, you would… I’m a great magpie in that you’d see different ways of people doing different things and you think, ‘Oh, that’s a really clever way of dealing with that situation.’”
The “magpie” approach became her secret weapon. Instead of trying to copy one particular leader’s style, she collected the best techniques from everyone she worked with. She borrowed what worked, discarded what didn’t, and slowly built her own leadership philosophy from the ground up.
This organic approach to development stands in sharp contrast to more formulaic leadership training programmes. Dame Alison learned by watching, absorbing, and adapting—a process that would serve her well throughout her career.
The Team Sport Revelation
One of her most important early discoveries was about the nature of banking itself.
“The most important thing that I learned and found, which has been a big appeal factor, is it’s very much, banking is very much a team-based sport,” she reflects.
This insight shaped everything that followed. Her career naturally gravitated toward “those areas which were very much about teams working together for an outcome rather than the very individualistic nature of other areas of the bank.”
It’s a philosophy she carried all the way to the CEO suite. “Running a bank is a team sport,” she would later say. “You really succeed by being part of a team.”
The Accidental CEO
Perhaps the most remarkable aspect of Dame Alison’s journey is that she never actually set out to become a CEO at all.
“I had no concept when I joined that I would be CEO,” she says. “I didn’t have a 5-year plan or a 10-year plan, it was what was the next most interesting job.”
Her HR team, she jokes, “always hold their head in their hands sometimes when I say” this. But it was true. Rather than plotting her path to the top, she made decisions based on one simple criterion: was the next opportunity more interesting than her current role?
“It was always for me, the next job was more interesting, the next challenge was more interesting… And it was always an interesting challenge and it was always with great people.”
This approach—focusing on the immediate challenge rather than long-term positioning—kept her engaged and growing. It also freed her from the kind of political manoeuvring that can trap ambitious executives in roles that advance their careers but don’t actually develop their capabilities.
Her advice distils this philosophy into something anyone can apply: “Work with great people, work with great teams, have jobs that challenge you.”
Learning Through Mistakes
Dame Alison’s journey wasn’t without its share of humbling moments. She remembers staying up late working hard on reports, only to have them returned with feedback that they weren’t “the right tone” or “the right approach.”
Rather than being discouraged, she treated these setbacks as learning opportunities. This willingness to accept feedback and learn from errors would become central to her leadership philosophy.
Years later, as CEO, she would articulate this understanding: “The thing about being a CEO is, when you win, it’s the team’s success. When you lose, it’s the CEO’s fault. You have to recognise that your role is to allow other people to be successful and to shine.”
This mature perspective on leadership responsibility—taking blame while sharing credit—likely developed through those early experiences of making mistakes and learning from them.
The Evolution of Mentorship
While Dame Alison didn’t have formal mentors when she started, she came to appreciate their importance as her career progressed.
“As I’ve gone through different periods in my career, I’ve had mentors both within the bank and external to the bank and used them quite extensively,” she explains.
She found mentors particularly valuable during moments of career risk-taking. “Certainly as my career has grown at different points of taking risk in career direction, I’ve relied on mentors and role models to help me with that.”
Her approach to seeking guidance was refreshingly honest and vulnerable: “I don’t know what I’m doing. What should I do? Is this a good idea? Is it not a good idea? Help, it’s not going right. Oh my god, I’ve made a mistake. What do I do?”
This openness to admitting when she needed help demonstrates the kind of self-awareness that would later make her an effective leader.
Developing Authentic Leadership
Through all these experiences, Dame Alison developed strong convictions about what leadership should and shouldn’t be. The worst advice she ever received? “Try and be like someone else.”
Instead, she advocates for authenticity over imitation. “You develop your own leadership style, you sort of borrow from other people, and then you find yourself,” she explains.
Her leadership philosophy centres on several key principles that emerged from her decades of experience: authenticity (“Go for it, believe in yourself, and just be yourself”), team orientation (recognising that success comes through collective effort), continuous learning (approaching each challenge as an opportunity to grow), and maintaining perspective (“Don’t sweat the small stuff, it is nothing in the arc of a career”).
The Power of Perspective
One of Dame Alison’s most valuable pieces of advice reflects the wisdom gained through her long career: “Don’t sweat the small stuff, it is nothing in the arc of a career. Keep your perspective on things.”
This ability to distinguish between temporary setbacks and genuine career challenges likely developed through her three decades of navigating various obstacles and opportunities. It’s the kind of perspective that only comes from having weathered multiple storms and understanding that most crises that feel overwhelming in the moment are actually just speed bumps when viewed from a longer timeframe.
Breaking Barriers Through Excellence
Dame Alison Rose’s historic appointment as the first female CEO of a major UK bank wasn’t the result of a campaign for representation. It was the natural culmination of thirty years of excellent performance and authentic leadership development.
“I should not be the only female CEO in banking,” she has said. “There should be more female CEOs across business because there are some amazingly talented women out there.”
Her success opened doors for others, but it came through demonstrating competence and leadership rather than positioning herself as a pioneer. The barrier-breaking was almost a by-product of simply doing excellent work consistently over time.
Lessons for Today’s Leaders
Dame Alison’s transformation from uncertain graduate to groundbreaking CEO offers several crucial insights for emerging leaders:
Don’t obsess over the master plan. “It was all about trying to learn,” she says. Not having a detailed career roadmap can actually be liberating, allowing you to pursue unexpected opportunities and develop skills you never knew you needed.
Learn from everyone. Her “magpie” approach to collecting insights from various leaders and situations proved invaluable. Every person you work with has something to teach you, even if it’s what not to do.
Focus on the next challenge, not the next promotion. Excellence in your current role naturally leads to better opportunities. Rather than constantly positioning yourself for advancement, concentrate on doing exceptional work where you are.
Embrace the team mindset. Understanding that leadership is fundamentally about enabling others to succeed is crucial for long-term effectiveness.
Seek authentic mentorship. Don’t be afraid to admit when you need guidance. The most successful leaders are those who continue learning throughout their careers.
Keep perspective. Most of what feels like career-defining crises today will barely register as footnotes years from now.
Three decades after that nervous first day, Dame Alison Rose’s journey reminds us that the best leaders often aren’t those who mapped out their ascent from the beginning. They’re the ones who stayed curious, remained authentic, and understood that exceptional leadership is ultimately about helping others succeed.
“It was all about trying to learn,” she reflects. That same curiosity and commitment to growth continues to drive her leadership today—and it’s perhaps the most transferable lesson of all.
Read more:
From Graduate to Groundbreaker: Dame Alison Rose’s 30-Year Journey in Banking Leadership