Hall of Shame – F

The following financial institutions beginning with “F” appear in the 2014 Don’t Bank on the Bomb Hall of Shame. For the full list, or to lookup financial institutions by country, please see here.

Farallon Capital Management (United States)

Farallon Capital Management has made an estimated 102 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which Farallon Capital Management (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Farallon Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Rockwell Collins United States 102 0.97 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Ferguson Wellman Capital Management (United States)

Ferguson Wellman Capital Management has made an estimated 40 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the loans provided by Ferguson Wellman Capital Management (United States) to the nuclear weapon companies since January 2011.

Loans provided by Ferguson Wellman Capital Management

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Gencorp GenCorp Inc 50 10 18-Nov-2011
150 30 18-Nov-2011

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

Fidelity Investments (United States)

Fidelity Investments has made an estimated 6,973 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which Fidelity Investments (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Fidelity Investments

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 487 15.19 30-Jun-2014
Alliant Techsystems United States 261 6.11 30-Jun-2014
Babcock & Wilcox United States 121 3.47 30-Jun-2014
Boeing United States 2,165 2.36 30-Jun-2014
Finmeccanica Italy 117 2.13 20-Jun-2014
Fluor United States 103 0.85 30-Jun-2014
Gencorp United States 12 1.04 30-Jun-2014
General Dynamics United States 231 0.59 30-Jun-2014
Honeywell International United States 1,806 2.48 30-Jun-2014
Huntington Ingalls United States 185 4.02 30-Jun-2014
Jacobs Engineering United States 229 3.22 30-Jun-2014
Leidos United States 51 1.76 30-Jun-2014
Safran France 209 0.77 30-Jun-2014
Serco United Kingdom 102 2.88 07-Feb-2014
Textron United States 507 4.74 30-Jun-2014
URS United States 208 6.56 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

 

The table below provides an overview of the nuclear weapon companies of which Fidelity Investments (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Fidelity Investments

Company Country Total value (US$ mln) % Outstanding Filing date
BAE Systems United Kingdom 27 0.80 31-Jul-2014
Gencorp United States 8 1.01 30-Jun-2014
Huntington Ingalls United States 45 3.76 30-Apr-2014

Source: Bloomberg, “Aggregated debt”, viewed in August 2014.

Fidelity Worldwide Investment (Bermuda)

Fidelity Worldwide Investment has made an estimated 371 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which Fidelity Worldwide Investment (Bermuda) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Fidelity Worldwide Investment

Company Country Total value (US$ mln) % Outstanding Filing date
Serco United Kingdom 172 4.46 03-Mar-2014
Textron United States 157 1.47 30-Jun-2014
URS United States 42 1.31 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Fifth Third Bancorp (United States)

Fifth Third Bancorp has made an estimated 177 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the loans provided by Fifth Third Bancorp (United States) to the nuclear weapon companies since January 2011.

Loans provided by Fifth Third Bancorp

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Alliant Techsystems Alliant Techsystems Inc 250 14 08-Oct-2013
700 12 08-Oct-2013
1,010 17 08-Oct-2013
150 15 24-Jun-2014
Babcock & Wilcox The Babcock & Wilcox Co 700 32 22-May-2012
Huntington Ingalls Huntington Ingalls Ind Inc 489 27 23-Sep-2013
650 35 23-Sep-2013
Textron Textron Inc 500 25 23-Jan-2014

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

Financière de l’Echiquier (France)

Financière de l’Echiquier has made an estimated 44 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which Financière de l’Echiquier (France) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Financière de l’Echiquier

Company Country Total value (US$ mln) % Outstanding Filing date
Serco United Kingdom 44 0.86 31-May-2013

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Findlay Park Partners (United Kingdom)

Findlay Park Partners has made an estimated 53 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which Findlay Park Partners (United Kingdom) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Findlay Park Partners

Company Country Total value (US$ mln) % Outstanding Filing date
Jacobs Engineering United States 53 0.75 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

First Eagle Investment Management (United States)

First Eagle Investment Management has made an estimated 1,408 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which First Eagle Investment Management (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by First Eagle Investment Management

Company Country Total value (US$ mln) % Outstanding Filing date
Alliant Techsystems United States 371 8.68 30-Jun-2014
Lockheed Martin United States 441 0.86 30-Jun-2014
Northrop Grumman United States 576 2.32 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

 

The table below provides an overview of the nuclear weapon companies of which First Eagle Investment Management (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by First Eagle Investment Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 10 1.23 30-Jun-2014
Huntington Ingalls United States 10 0.86 30-Jun-2014

Source: Bloomberg, “Aggregated debt”, viewed in August 2014.

First Manhattan (United States)

First Manhattan has made an estimated 104 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which First Manhattan (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by First Manhattan

Company Country Total value (US$ mln) % Outstanding Filing date
Leidos United States 47 1.63 30-Jun-2014
Rockwell Collins United States 57 0.54 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

First Niagara Financial (United States)

First Niagara Financial has made an estimated 29 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the loans provided by First Niagara Financial (United States) to the nuclear weapon companies since January 2011.

Loans provided by First Niagara Financial

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Alliant Techsystems Alliant Techsystems Inc 700 12 08-Oct-2013
1,010 17 08-Oct-2013

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

First Pacific Advisors (United States)

First Pacific Advisors has made an estimated 26 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which First Pacific Advisors (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by First Pacific Advisors

Company Country Total value (US$ mln) % Outstanding Filing date
General Dynamics United States 26 0.68 30-Jun-2014

Source: Bloomberg, “Aggregated debt”, viewed in August 2014.

First Trust Advisors (United States)

First Trust Advisors has made an estimated 102 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which First Trust Advisors (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by First Trust Advisors

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 29 0.90 30-Jun-2014
Babcock & Wilcox United States 22 0.62 30-Jun-2014
Huntington Ingalls United States 26 0.56 30-Jun-2014
URS United States 25 0.78 30-Jun-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

FirstRand (South Africa)

FirstRand has made an estimated 6 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the underwriting of bond issuances by FirstRand (South Africa) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by FirstRand

Company Subsidiary Use of Proceeds Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Ltd General 9 3 19-Oct-2012
9 3 19-Oct-2012

Source: Thomson ONE Banker, “Bond and share issue underwritings”, viewed August 2014.

Franklin Resources (United States)

Franklin Resources has made an estimated 4,497 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the nuclear weapon companies of which Franklin Resources (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Franklin Resources

Company Country Total value (US$ mln) % Outstanding Filing date
BAE Systems United Kingdom 1,084 4.99 19-Feb-2014
General Dynamics United States 216 0.55 30-Jun-2014
Honeywell International United States 412 0.57 30-Jun-2014
Huntington Ingalls United States 250 5.44 30-Jun-2014
Lockheed Martin United States 806 1.58 30-Jun-2014
Northrop Grumman United States 147 0.59 30-Jun-2014
Safran France 442 1.62 30-Jun-2014
Serco United Kingdom 235 6.88 30-Jun-2014
Textron United States 61 0.57 30-Jun-2014
ThyssenKrupp Germany 844 4.97 07-May-2014

Source: Thomson ONE Banker, “Share ownership: most recent filings”, viewed August 2014.

Fubon Group (Taiwan)

Fubon Group has made an estimated 29 million USD available to the nuclear weapons producers listed in this report since January 2011.

The table below provides an overview of the loans provided by Fubon Group (Taiwan) to the nuclear weapon companies since January 2011.

Loans provided by Fubon Group

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Alliant Techsystems Alliant Techsystems Inc 700 12 08-Oct-2013
1,010 17 08-Oct-2013

Source: Thomson ONE Banker, “Loans”, viewed August 2014.

 

Hall of Shame Methodology

Which financial institutions are involved in the financing of the selected nuclear weapon companies was researched using annual reports, stock exchange filings and other publications of the companies concerned, archives of trade magazines, local newspapers and the financial press as well as specialized financial databases (Thomson ONE, Bloomberg). Used resources are clearly mentioned.

Financial institutions can be involved in financing companies by providing corporate loans, by assisting companies with share- and bond issues, and by (managing) investments in shares and bonds of these companies. For asset managers and pension funds, the only relevant type of financial involvement is (managing) share- and bondholdings of the selected companies.

In this report, we have focussed on the financial institutions which are found to have most significant financing relationships with one or more of the selected nuclear weapon companies. To select these financial institutions, the following criteria are used:

  • All financial institutions involved in loans and underwriting deals for one or more of the companies since 1 January 2011;
  • All financial institutions which own at least 0.5% of the outstanding shares or bonds of at least one of the companies.

What is included

Each section provides the following information for each financial institution:

The types of financial relations which the financial institution has with one or more nuclear weapon companies. The relations are grouped by loans, investment banking and asset management. Financial activities are listed alphabetically by nuclear weapons company for each category.

The name of the receiving company, the amount, the date and (if known) the purpose for each financial relation.

All data is presented in tables. For loans, the first column represents the names of the selected companies that received the loans, the second column shows which subsidiary or part of the selected company has issued the loan. The third column is the purpose of the loan. The fourth column (# FI’s), shows the number of financial institutes participating in loans as loans are often offered by a syndicate of financial institutions. The fifth column represents the value of the total loan offered by the syndicate to the company. The sixth column is the amount for which this specific financial institute participated in the loan. This amount is calculated depending on the role the financial institute plays in the syndicate, as explained below. The last column shows the date the loan was issued.

The tables for underwriting of share and bond issuances have the same columns. The method for calculating these the value per financial institute can be below.

The tables for share and bondholdings managed by the financial institutions show the nuclear weapon producing companies, the country in which this company is situated, the percentage of all bonds or shares outstanding hold or managed by the specific institution, and the total value of the shares or bonds held by the financial institution in the indicated company.

When comparing this report with last years report please keep in mind that we have excluded some Indian sources due to recently identified errors in the Bloomberg databases regarding Indian Mutual Funds.

The financial institutions identified include banks, pension funds, sovereign wealth funds, insurance companies and asset managers from many different countries. They have provided various types of financial services to nuclear weapon companies.