Hall of Shame – O

The following financial institutions beginning with “O” 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.

Och-Ziff Capital Management Group (United States)

Och-Ziff Capital Management Group has made an estimated 226 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 Och-Ziff Capital Management Group (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Och-Ziff Capital Management Group

Company Country Total value (US$ mln) % Outstanding Filing date
General Dynamics United States 226 0.58 30-Jun-2014

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

Oddo & Cie (France)

Oddo & Cie has made an estimated 256 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 Oddo & Cie (France) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Oddo & Cie

Company Country Total value (US$ mln) % Outstanding Filing date
Safran France 256 0.88 31-Dec-2013

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

Ohio National Mutual (United States)

Ohio National Mutual has made an estimated 15 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 Ohio National Mutual (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Ohio National Mutual

Company Country Total value (US$ mln) % Outstanding Filing date
Leidos United States 15 1.15 31-Mar-2014

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

Ohio Public Employees Retirement System (United States)

Ohio Public Employees Retirement System has made an estimated 8 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 Ohio Public Employees Retirement System (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Ohio Public Employees Retirement System

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 8 0.78 31-Mar-2014

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

Old Mutual (United Kingdom)

Old Mutual has made an estimated 4,315 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 Old Mutual (United Kingdom) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Old Mutual

Company Country Total value (US$ mln) % Outstanding Filing date
Alliant Techsystems United States 38 0.89 30-Jun-2014
Gencorp United States 21 1.91 30-Jun-2014
General Dynamics United States 1,359 3.49 30-Jun-2014
Honeywell International United States 1,261 1.73 30-Jun-2014
Huntington Ingalls United States 24 0.53 30-Jun-2014
Northrop Grumman United States 331 1.33 30-Jun-2014
Raytheon United States 1,256 4.38 30-Jun-2014
URS United States 25 0.79 30-Jun-2014

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

Ontario Teachers’ Pension Plan Board (Canada)

Ontario Teachers’ Pension Plan Board has made an estimated 91 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 Ontario Teachers’ Pension Plan Board (Canada) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Ontario Teachers’ Pension Plan Board

Company Country Total value (US$ mln) % Outstanding Filing date
Textron United States 91 0.86 30-Jun-2014

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

Oppenheimer Holdings (United States)

Oppenheimer Holdings has made an estimated 31 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 Oppenheimer Holdings (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Oppenheimer Holdings

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 17 2.11 30-Jun-2014
Huntington Ingalls United States 14 1.18 30-Jun-2014

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

Opus Capital Management (United States)

Opus Capital Management has made an estimated 18 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 Opus 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 Opus Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 18 0.55 30-Jun-2014

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

Orbis Group (Bermuda)

Orbis Group has made an estimated 87 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 Orbis Group (Bermuda) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Orbis Group

Company Country Total value (US$ mln) % Outstanding Filing date
Serco United Kingdom 87 2.75 25-Apr-2014

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

Orix Corporation (Japan)

Orix Corporation has made an estimated 1,263 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 Orix Corporation (Japan) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Orix Corporation

Company Country Total value (US$ mln) % Outstanding Filing date
Fluor United States 131 1.09 30-Jun-2014
Huntington Ingalls United States 188 4.10 30-Jun-2014
Lockheed Martin United States 488 0.96 30-Jun-2014
Raytheon United States 437 1.52 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 Orix Corporation (Japan) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Orix Corporation

Company Country Total value (US$ mln) % Outstanding Filing date
Huntington Ingalls United States 19 1.56 31-May-2014

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

OxFORD Asset Management (United Kingdom)

OxFORD Asset Management 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 OxFORD Asset Management (United Kingdom) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by OxFORD Asset Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 9 0.78 30-Jun-2014

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.