Hall of Shame – N

The following financial institutions beginning with “N” 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.

 

National Bank of Abu Dhabi (United Arab Emirates)

National Bank of Abu Dhabi has made an estimated 329 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 National Bank of Abu Dhabi (United Arab Emirates) to the nuclear weapon companies since January 2011.

Loans provided by National Bank of Abu Dhabi

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
BAE Systems BAE Systems PLC 3,269 82 12-Dec-2013
Boeing Boeing Co 2,300 42 05-Nov-2011
2,300 42 05-Nov-2011
General Dynamics General Dynamics Corp 1,000 35 14-Jul-2011
43 14-Jul-2011
Northrop Grumman Northrop Grumman Corp 500 13 18-Aug-2012
Serco Serco Group PLC 1,159 72 21-Feb-2012

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

National Financial Partners (United States)

National Financial Partners has made an estimated 21 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 National Financial Partners (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by National Financial Partners

Company Country Total value (US$ mln) % Outstanding Filing date
URS United States 21 0.67 30-Jun-2014

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

National Life Group (United States)

National Life Group has made an estimated 23 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 National Life Group (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by National Life Group

Company Country Total value (US$ mln) % Outstanding Filing date
Leidos United States 10 0.77 31-Mar-2014
Rockwell Collins United States 13 0.76 31-Mar-2014

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

Nationwide (United States)

Nationwide has made an estimated 42 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 Nationwide (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Nationwide

Company Country Total value (US$ mln) % Outstanding Filing date
Leidos United States 10 0.77 31-Mar-2014
Northrop Grumman United States 32 0.73 31-Mar-2014

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

Neuberger Berman (United States)

Neuberger Berman has made an estimated 1,337 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 Neuberger Berman (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Neuberger Berman

Company Country Total value (US$ mln) % Outstanding Filing date
Boeing United States 996 1.09 30-Jun-2014
General Dynamics United States 202 0.52 30-Jun-2014
Textron United States 139 1.30 30-Jun-2014

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

New India Assurance (India)

New India Assurance has made an estimated 169 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 New India Assurance (India) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by New India Assurance

Company Country Total value (US$ mln) % Outstanding Filing date
Larsen & Toubro India 169 1.05 31-Dec-2013

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

New Jersey Department of the Treasury (United States)

New Jersey Department of the Treasury has made an estimated 119 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 New Jersey Department of the Treasury (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by New Jersey Department of the Treasury

Company Country Total value (US$ mln) % Outstanding Filing date
Babcock & Wilcox United States 65 1.83 31-Mar-2014
URS United States 54 1.70 30-Jun-2014

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

New Mountain Capital (United States)

New Mountain Capital 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 New Mountain Capital (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by New Mountain Capital

Company Country Total value (US$ mln) % Outstanding Filing date
URS United States 53 1.67 30-Jun-2014

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

New York Life Insurance Company (United States)

New York Life Insurance Company has made an estimated 1,161 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 New York Life Insurance Company (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by New York Life Insurance Company

Company Country Total value (US$ mln) % Outstanding Filing date
Boeing United States 743 0.81 30-Jun-2014
Fluor United States 62 0.51 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 New York Life Insurance Company (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by New York Life Insurance Company

Company Country Total value (US$ mln) % Outstanding Filing date
BAE Systems United Kingdom 52 1.57 31-Mar-2014
Boeing United States 49 0.74 31-Mar-2013
Gencorp United States 35 4.33 31-Mar-2014
General Dynamics United States 79 2.02 31-Mar-2014
Huntington Ingalls United States 22 1.80 31-Mar-2014
Leidos United States 27 2.06 31-Mar-2014
Raytheon United States 28 0.54 31-Mar-2014
Rockwell Collins United States 64 3.87 31-Mar-2014

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

New York State Common Retirement Fund (United States)

New York State Common Retirement Fund has made an estimated 71 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 New York State Common Retirement Fund (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by New York State Common Retirement Fund

Company Country Total value (US$ mln) % Outstanding Filing date
Alliant Techsystems United States 25 0.57 30-Jun-2014
Huntington Ingalls United States 28 0.61 30-Jun-2014
URS United States 18 0.57 30-Jun-2014

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

NewSouth Capital Management (United States)

NewSouth Capital Management has made an estimated 85 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 NewSouth 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 NewSouth Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 85 7.54 30-Jun-2014

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

Norddeutsche Landesbank (Germany)

Norddeutsche Landesbank has made an estimated 75 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 Norddeutsche Landesbank (Germany) to the nuclear weapon companies since January 2011.

Loans provided by Norddeutsche Landesbank

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
ThyssenKrupp ThyssenKrupp AG 2,751 75 07-Mar-2014

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

Northern Trust (United States)

Northern Trust has made an estimated 4,437 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 Northern Trust (United States) to the nuclear weapon companies since January 2011.

Loans provided by Northern Trust

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology 750 20 07-Jun-2013
600 40 23-Sep-2011
1,050 39 29-Jan-2014
1,050 70 13-Jul-2011
Alliant Techsystems Alliant Techsystems Inc 700 12 08-Oct-2013
1,010 17 08-Oct-2013
Babcock & Wilcox The Babcock & Wilcox Co 700 32 22-May-2012
Boeing Boeing Co 2,300 42 11-May-2011
2,300 42 11-May-2011
CH2M CH2M Hill Cos Ltd 900 72 19-Apr-2012
General Dynamics General Dynamics Corp 1,000 35 14-Jul-2011
43 14-Jul-2011
Honeywell International Honeywell International Inc 2,800 62 17-Mar-2011
4,000 73 18-Nov-2013
Jacobs Engineering Jacobs Engineering Group Inc 1,140 62 07-Feb-2014
Lockheed Martin Lockheed Martin Corp 1,500 90 26-Aug-2011
Northrop Grumman Huntington Ingalls Ind Inc 575 22 31-Mar-2011
650 24 31-Mar-2011
Northrop Grumman Corp 500 43 08-Sep-2011
1,500 129 08-Sep-2011
500 13 18-Aug-2012
Raytheon Raytheon Co 1,400 76 13-Dec-2011
Textron Textron Inc 500 25 23-Jan-2014
1,000 75 30-Sep-2013
1,000 143 02-Mar-2011
URS URS Corp 39 2 16-Dec-2013
655 39 16-Dec-2013
961 58 16-Dec-2013

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

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

Shareholdings managed by Northern Trust

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 25 0.77 30-Jun-2014
Alliant Techsystems United States 36 0.84 30-Jun-2014
Boeing United States 773 0.84 30-Jun-2014
Fluor United States 102 0.84 30-Jun-2014
Gencorp United States 13 1.12 30-Jun-2014
General Dynamics United States 309 0.79 30-Jun-2014
Honeywell International United States 608 0.84 30-Jun-2014
Huntington Ingalls United States 36 0.78 30-Jun-2014
Jacobs Engineering United States 58 0.82 30-Jun-2014
Leidos United States 21 0.73 30-Jun-2014
Lockheed Martin United States 373 0.73 30-Jun-2014
Northrop Grumman United States 233 0.94 30-Jun-2014
Raytheon United States 251 0.87 30-Jun-2014
Rockwell Collins United States 87 0.82 30-Jun-2014
Textron United States 87 0.82 30-Jun-2014
URS United States 25 0.78 30-Jun-2014

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

NorthPointe Capital (United States)

NorthPointe Capital has made an estimated 9 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 NorthPointe Capital (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by NorthPointe Capital

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 9 0.83 30-Jun-2014

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

Northwestern Mutual Life Insurance (United States)

Northwestern Mutual Life Insurance has made an estimated 621 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 Northwestern Mutual Life Insurance (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Northwestern Mutual Life Insurance

Company Country Total value (US$ mln) % Outstanding Filing date
BAE Systems United Kingdom 168 5.08 31-Mar-2014
Boeing United States 71 1.09 31-Mar-2014
General Dynamics United States 68 1.76 31-Mar-2014
Honeywell International United States 41 0.65 31-Mar-2014
Lockheed Martin United States 153 1.60 31-Mar-2014
Raytheon United States 120 2.29 31-Mar-2014

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

Norwegian Government Pension Fund – Global (Norway)

Norwegian Government Pension Fund – Global has made an estimated 843 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 Norwegian Government Pension Fund – Global (Norway) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Norwegian Government Pension Fund – Global

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 25 0.86 31-Dec-2013
Finmeccanica Italy 81 1.84 31-Dec-2013
Fluor United States 100 0.79 31-Dec-2013
Huntington Ingalls United States 38 0.87 31-Dec-2013
Larsen & Toubro India 81 0.51 31-Dec-2013
Leidos United States 35 1.02 31-Dec-2013
Rockwell Collins United States 77 0.77 31-Dec-2013
Thales France 156 1.17 31-Dec-2013
ThyssenKrupp Germany 218 1.58 31-Dec-2013
URS United States 32 0.88 31-Dec-2013

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