Taking a Look at the Major Step Change in Joint Ventures with James Bamford
Joint ventures have quietly become the fastest-growing form of business combination worldwide. While M&A cycles rise and fall, JV activity has hit a new high, fuelled by the urgent need for collaboration in areas like sustainability, innovation, and the circular economy. From EXXON and DOW to the ALCOA–RIO TINTO partnership pioneering new mining technologies, global enterprises are turning to alliances that demand specialized governance and oversight.
That’s why David has invited James Bamford, one of the world’s leading experts in joint venture governance, to share his insights.
The JV Governance Challenge
Governing a joint venture is very different compared to public company governance. Directors must navigate:
- Fiduciary duty and alignment: Unlike public boards that represent a diffuse shareholder base focused on Total Shareholder Return, JV boards juggle competing priorities, legal frameworks, and partner expectations, especially in cross-border contexts.
- Diverse governance models: From North America to the UK to Asia, board compositions and decision-making traditions vary dramatically, influencing how directors collaborate and resolve conflicts.
- Unique structures and stakeholders: Synthetic or government-backed JVs, like Ford’s contemplated Fuel JV in China, introduce added layers of regulatory and political complexity.
The Strategic Imperative
Roughly half of all JVs succeed; a rate similar to M&A. But well-governed ventures consistently outperform on ROI and ROA, proving that the right structure and governance can unlock outsized value.
This session will help directors understand:
- Why joint ventures are proliferating across industries.
- How to adapt public company governance principles for multi-party alliances.
- The cultural and communication skills needed to bridge gaps between global partners.
Speaker Highlights
James Bamford
James Bamford is one of the world’s leading authorities on joint ventures and strategic alliances, recognized for professionalizing the discipline of JV governance. He currently serves as a Senior Managing Director at Ankura, where he leads the firm’s Global Joint Venture & Partnership Practice. A pivotal figure in the advisory landscape, he co-founded Water Street Partners and was instrumental in building it into the premier global consultancy dedicated to joint ventures before its acquisition by Ankura in 2020.
In parallel with his firm leadership, he has served as a trusted advisor on over 200 complex transactions and restructurings valued at more than $300 billion, with work spanning the energy, mining, and technology sectors. Beyond his work in deal structuring, Mr. Bamford is a prolific thought leader in the partnership ecosystem; he is the author of Joint Venture Governance: A Guide for Directors and Executives and a frequent contributor to the Harvard Business Review, where his articles, such as "Launching a World-Class Joint Venture," are widely cited as foundational texts.
Previously, he led the Joint Venture & Alliance Practice at McKinsey & Company. His expertise has established him as a key voice in defining best practices for cross-border collaboration and corporate governance
Our Hosts
David R. Beatty, C.M., O.B.E., F.ICD, CFA
One of the world’s most experienced corporate directors and educators, David has served as a Director on 40 boards in Canada, America, Mexico, Australia and England. He has been chair of 11 companies, nine public and two private.
View Profile