Russ Dallen
Russell Morris Dallen Jr. | |
|---|---|
| Born | 20 January 1963 United States |
| Died | 17 September 2021 (aged 58) |
| Occupation(s) | Economist, financial advisor, international lawyer, publisher, journalist |
| Known for | President and editor-in-chief of Venezuela Daily Journal; editor-in-chief of Latin American Herald Tribune; managing Latin American division of Oppenheimer & Co. |
Russell Morris Dallen Jr., commonly known as Russ Dallen (January 20, 1963 – September 17, 2021), was an American professional specializing in economics, financial advisory, international law, publishing, and journalism. Between 2000 and 2007, he managed the Latin American division of the investment bank Oppenheimer & Co. based in Caracas, Venezuela.
He held the positions of president and editor–in–chief at the Venezuela Daily Journal and also served as editor–in–chief of the Latin American Herald Tribune.
Early life
Dallen’s career began at a young age as a newspaper delivery boy for The Times-Picayune in New Orleans, later advancing to edit a weekly segment for the Sun Herald. In 1981, he was recognized as an Outstanding Future Leader at the National Century III Leaders Conference.
He graduated with a B.A. in economics and political science from the University of Mississippi in 1985, becoming the university’s inaugural Truman Scholar recipient, awarded $40,000. At Oxford University, where he studied as a Foreign and Commonwealth Office Scholar, he earned an M.A. in law; his thesis on human rights protections within the European Community was distinguished as Article of the Year by the Common Market Law Review. Additionally, he completed a diploma in international law at Nottingham University.
Dallen was awarded fellowships at Columbia University and the United Nations Association and was appointed Harold W. Rosenthal Fellow with the U.S. Senate Committee on Foreign Relations.
Writer and journalist
During his time at Columbia University, Dallen contributed articles to The Daily Telegraph of London and took on editorial responsibilities for the Journal of International Affairs. He completed an internship at Newsweek and later worked as their foreign correspondent based in London.
He authored or co-authored multiple academic works including four books and numerous articles published in outlets such as The Christian Science Monitor. He collaborated with Louis Henkin and others on projects like the Restatement (Third) of the Foreign Relations Law of the United States and the book titled International Law.
Dallen was part of the editorial boards for literary publications including Southern magazine Oxford American and The Hemispheric Review. In 2003, he purchased the English-language Venezuelan newspaper The Daily Journal, acting as its president and editor–in–chief until 2006 before becoming President Emeritus. Following its shutdown in 2008, it was replaced by the digital publication Latin American Herald Tribune, where he assumed the role of editor–in–chief.
Commentator
As a regular analyst on South American issues across various media platforms such as print, radio, and television, Dallen provided expert commentary. He gave testimony before both the United States Senate and the United States House of Representatives Human Rights Commission concerning Venezuela’s political turmoil and economic challenges. Furthermore, he briefed organizations including the State Department, National Intelligence Council, United States Southern Command, and the Committee on Foreign Relations.
Dallen also delivered presentations at the Council on Foreign Relations and spoke at academic institutions, offering insights into Venezuelan market dynamics and broader regional geopolitical developments.
Finance
Dallen served as the leader of Caracas Capital Markets and was the managing partner at the family office Ophiuchus Capital Management, while also providing advisory services to the Venezuela Opportunity Fund. Between 2000 and 2007, he directed the Latin American branch of investment bank Oppenheimer & Co. in Caracas, Venezuela, before moving on to oversee capital markets at the Venezuelan investment bank BBO.
His expertise in investments gained recognition from the Financial Times in 2014 when he successfully transformed defaulted Argentine bonds, initially purchased at roughly 30 cents on the dollar, into sales reaching 150 cents, thereby multiplying returns fivefold for both clients and his firm.
In Venezuela, Dallen was among the first to analyze economic turmoil, notably forecasting the shortage of toilet paper in January 2013 despite elevated oil prices, and cautioning about an impending economic collapse. Simultaneously, he doubled his holdings in Harvest Natural Resources (NYSE: HNR) within a month before realizing profits and secured a 60% gain over six months on Fertinitro, a Venezuelan entity linked to the Koch brothers.
By early 2016, Dallen anticipated Venezuela’s looming foreign debt default, highlighting its reliance on oil revenues and potential financial rescues from China, Russia, or Iran. He played a pivotal role in revealing that state-owned PDVSA had pledged 49.9% of U.S.-based refinery Citgo to Russia’s Rosneft due to liquidity shortages. This disclosure led to his testimony before Congress concerning Russia’s involvement.
The Financial Times acknowledged Dallen for exposing Venezuela’s cessation of bond payments in September. Bloomberg noted that investors under his guidance achieved returns of up to 300% following the official November default announcement by Venezuela and PDVSA as declared by the International Swaps and Derivatives Association (ISDA).
Publications
- "Overview of European Community Protection of Human Rights, with Some Special References to the UK." Common Market Law Review 27, 761, 1990.
- "A First Step Toward an International Criminal Court" co-authored with WJ vanden Heuvel. The Christian Science Monitor, 1992
- A U.N. Revitalized: A Compilation of UNA-USA Recommendations on Strengthening the Role of the United Nations in Peacemaking, Peacekeeping, and Conflict Prevention, 1992
Professional affiliations
Dallen held membership in the International Law section of the New York State Bar Association. He contributed as a board member for both the Truman Scholars Association and the Rosenthal Fellowship Advisory Board. Additionally, he was a featured speaker at the 2019 Annual Meeting of the American Society of International Law.
He also served as a presidential fellows mentor at the Center for the Study of the Presidency and Congress.
His involvement extended to Conciencia Activa Venezuela, participation in the media committee of the Venezuelan American Chamber of Commerce, and board membership with the Venezuelan American Friendship Association.
Awards and honors
- Recipient of the 1983 Harry S. Truman Scholarship
- Awarded the Harold Wallace Rosenthal Fellowship for work with the United States Senate Committee on Foreign Relations
- Honored as a Foreign and Commonwealth Office Scholar at Oxford University
- Selected as a Fellow in the European Union Visitors Program
- Winner of the Ner Tamid Award
- AVAA Patronage Award recipient in 2004
- Included in Who’s Who in America, Who’s Who in Finance and Industry, Who’s Who in Law, and Who’s Who in the World directories
- Received Article of the Year from Common Market Law Review for "An Overview of European Community Protection of Human Rights, with some Special References to the U.K."
- Recognized by Donna Tartt within her novel The Secret History
Personal life
Dallen was united in marriage with Jeanette Garavito, a legal professional from Venezuela. Together, they had three children: a son named Russell M. Dallen III, along with two daughters, Allegra Julia Faye Dallen and Arabella Sarah Emma Dallen.
He passed away on 17 September 2021, at the age of 58.