The paper considers the relationship between leadership, trust and trusting. The examples given look at their role in developing and supporting the learning processes needed for knowledge development. Two qualitative research projects are analysed considering how leadership, trust, learning and knowledge are affecting each other. The importance of trust was clarified but, more importantly, the notion of trusting as a differentiated set of behaviours was identified. The paper concludes that developing trust is not enough, leaders need to ensure that the theories-in-use and the espoused theories of trust are in line and that, in order to engender trust, leaders must initiate trusting behaviours.