As a global expert and practitioner, Russell drew on his extensive work with institutions including the World Bank, Asian Development Bank, and IFAD, where he recognized that despite best intentions then-conventional development models too often overlooked local communities, inadvertently entrenching inequality. He saw firsthand how dominant paradigms of trickle-down development and centralized infrastructure failed to reach the people and places who needed it most.
Russell’s response was not to walk away—but to build something different.
In 2001, alongside a committed group of like-minded collaborators, Russell launched S3IDF to bring a new approach to development: one that explicitly prioritized the poor and the environment, leveraged capital in creative and catalytic ways, and bundled financial, technical, and institutional support. His vision became S3IDF’s Social Merchant Bank Approach®—a model that broke down barriers for small entrepreneurs and community-focused initiatives, especially in India, where S3IDF’s early-stage impact investing work flourished under his leadership.
Under Russell’s guidance, S3IDF deployed catalytic capital, built inclusive markets, and helped countless small-scale businesses and social enterprises gain access to clean energy, waste solutions, and livelihood opportunities. Russell’s combination of analytical rigor, systems-level thinking, and unwavering commitment to dignity and justice shaped every aspect of the organization and its work.
Until his passing, Russell remained actively involved in S3IDF’s work—offering guidance, championing impact-first investing, and supporting the next generation of changemakers. His legacy lives on in the entrepreneurs we support, the inclusive capital strategies we advance, and the enduring mission of building systems that work for everyone.
We honor his memory not only with words, but with continued action—carrying forward his vision of a more just, sustainable, and inclusive world.
