Lambert was born in north Buckinghamshire and grew up in Manchester, first attending a local grammar school, before, at the age of 13, going to Fettes College, an independent school for boys in the city of Edinburgh in Scotland, followed by Balliol College at the University of Oxford, where he studied History.
Business career 
He joined the FT in 1966, editing the Lex Column in the paper in the 1970s. He became Financial Editor in 1979. From 1982-3, he was the paper's New York correspondent. He was editor of the Financial Times from 1991 until 2001. From 1997-8, he lived in New York (again) whilst remaining editor, where he set up a US version of the paper, to challenge the Wall Street Journal.
From June 2003 until March 2006 he was one of the nine members of the Monetary Policy Committee of the Bank of England, which sets the interest rate for sterling, the currency of the United Kingdom.
He became Director-General of the Confederation of British Industry on 1 July 2006. He has written Government reports on BBC News 24 and chaired the Lambert Review on the relationship between higher education and business.
He was replaced by John Cridland as head of the CBI on 1 February 2011.
He was awarded an honorary doctorate from the University of York in 2007. He has other honorary degrees from City University, the University of Warwick, Brighton University and the University of Exeter.
He was appointed Chancellor of the University of Warwick on 19 March 2008. He formally took up the position on 1 August 2008, and was officially installed on 10 December of the same year.
Personal life 
He married Harriet Murray-Browne in 1973 and has two children. Lambert is also on the board of the British Museum.
|Editor of The Financial Times
1991 – 2001
Sir Digby Jones
|Director of the Confederation of British Industry
2006 – 2011
|Chancellor of the University of Warwick
2008 – present
|The Bank of England's Monetary Policy Committee|
|Governor: Sir Edward George (June 1997–June 2003)|
|June 2003:||George | King | Nickell | Bean | Barker | Tucker | Bell | Large | Lambert|
|Governor: Mervyn King (June 2003–present)|
|July 2003-June 2005:||King | Nickell | Bean | Barker | Tucker | Bell | Large | Lambert | Lomax|
|July 2005-January 2006:||King | Nickell | Bean | Barker | Tucker | Large | Lambert | Lomax | Walton|
|February 2006-March 2006:||King | Nickell | Bean | Barker | Tucker | Lambert | Lomax | Walton | Gieve|