Hall of Shame – R

The following financial institutions beginning with “R” 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.

Raymond James Financial (United States)

Raymond James Financial has made an estimated 52 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 Raymond James Financial (United States) to the nuclear weapon companies since January 2011.

Loans provided by Raymond James 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.

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

Shareholdings managed by Raymond James Financial

Company Country Total value (US$ mln) % Outstanding Filing date
URS United States 23 0.71 30-Jun-2014

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

RE Investment Corporation (United States)

RE Investment Corporation has made an estimated 54 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 RE Investment Corporation (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by RE Investment Corporation

Company Country Total value (US$ mln) % Outstanding Filing date
Huntington Ingalls United States 34 0.73 30-Jun-2014
Leidos United States 20 0.71 30-Jun-2014

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

Regions Financial (United States)

Regions Financial has made an estimated 73 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 Regions Financial (United States) to the nuclear weapon companies since January 2011.

Loans provided by Regions Financial

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 7 24-Jun-2014
Gencorp GenCorp Inc 100 8 30-May-2014
200 15 30-May-2014

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

Reinhart Partners (United States)

Reinhart Partners has made an estimated 28 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 Reinhart Partners (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Reinhart Partners

Company Country Total value (US$ mln) % Outstanding Filing date
Babcock & Wilcox United States 28 0.79 30-Jun-2014

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

Reliance Capital (India)

Reliance Capital has made an estimated 171 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 Reliance Capital (India) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Reliance Capital

Company Country Total value (US$ mln) % Outstanding Filing date
Larsen & Toubro India 171 0.65 30-Jun-2014

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

Renaissance Technologies (United States)

Renaissance Technologies has made an estimated 168 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 Renaissance Technologies (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Renaissance Technologies

Company Country Total value (US$ mln) % Outstanding Filing date
Huntington Ingalls United States 168 3.65 30-Jun-2014

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

RHJ International (Belgium)

RHJ International 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 RHJ International (Belgium) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by RHJ International

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 42 1.35 31-May-2014

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

Riyad Bank (Saudi Arabia)

Riyad Bank has made an estimated 195 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 Riyad Bank (Saudi Arabia) to the nuclear weapon companies since January 2011.

Loans provided by Riyad Bank

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Boeing Boeing Co 2,300 42 11-May-2011
2,300 42 11-May-2011
General Dynamics General Dynamics Corp 1,000 35 14-Jul-2011
Raytheon Raytheon Co 1,400 76 13-Dec-2011

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

Royal Bank of Canada (Canada)

Royal Bank of Canada has made an estimated 1,165 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 Royal Bank of Canada (Canada) to the nuclear weapon companies since January 2011.

Loans provided by Royal Bank of Canada

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Airbus Group EADS 4,345 76 14-Mar-2011
Alliant Techsystems Alliant Techsystems Inc 250 25 08-Oct-2013
700 47 08-Oct-2013
1,010 67 08-Oct-2013
200 13 09-Mar-2012
150 7 24-Jun-2014
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
Honeywell International Honeywell International Inc 2,800 62 17-Mar-2011
3,000 129 30-Mar-2012
4,000 73 18-Nov-2013
Lockheed Martin Lockheed Martin Corp 1,500 90 26-Aug-2011
TASC TASC Inc 100 13 19-Apr-2011
575 72 19-Apr-2011
50 5 23-Apr-2014
250 25 23-Apr-2014
393 39 23-Apr-2014

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

The table below provides an overview of the underwriting of bond issuances by Royal Bank of Canada (Canada) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Royal Bank of Canada

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Alliant Techsystems Alliant Techsystems Inc 300 50 22-Oct-2013
Boeing Boeing Capital Corp 500 18 28-Jul-2011
Boeing Co 350 10 30-Apr-2013
Honeywell International Honeywell International Inc 300 10 18-Nov-2013
700 23 18-Nov-2013
Lockheed Martin Lockheed Martin Corp 500 30 09-Jun-2011
600 36 09-Jun-2011
900 54 09-Jun-2011

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

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

Bondholdings managed by Royal Bank of Canada

Company Country Total value (US$ mln) % Outstanding Filing date
Thales France 27 2.56 30-Jun-2013

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

Royal Bank of Scotland (United Kingdom)

Royal Bank of Scotland has made an estimated 5,757 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 Royal Bank of Scotland (United Kingdom) to the nuclear weapon companies since January 2011.

Loans provided by Royal Bank of Scotland

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Airbus Group EADS 4,345 163 14-Mar-2011
BAE Systems BAE Systems PLC 3,269 82 12-Dec-2013
Bechtel Bechtel Corp 950 158 06-Feb-2011
975 146 27-Jul-2012
1,550 258 06-Feb-2011
1,000 150 14-Jun-2013
2,000 300 14-Jun-2013
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
Finmeccanica Finmeccanica SpA 3,001 106 09-Jul-2014
General Dynamics General Dynamics Corp 1,000 125 21-Jun-2013
1,000 80 14-Jul-2011
1,000 80 14-Jul-2011
Honeywell International Honeywell International Inc 2,800 62 17-Mar-2011
3,000 129 30-Mar-2012
4,000 73 18-Nov-2013
Huntington Ingalls Huntington Ingalls Ind Inc 489 49 23-Sep-2013
650 65 23-Sep-2013
Jacobs Engineering Jacobs Engineering Group Inc 1,160 139 23-Mar-2012
460 39 07-Feb-2014
1,140 124 07-Feb-2014
Larsen & Toubro Larsen & Toubro Ltd 47 5 27-Aug-2013
59 7 27-Aug-2013
64 7 27-Aug-2013
100 11 27-Aug-2013
100 11 27-Aug-2013
Lockheed Martin Lockheed Martin Corp 1,500 120 26-Aug-2011
Northrop Grumman Huntington Ingalls Ind Inc 575 58 31-Mar-2011
650 65 31-Mar-2011
Northrop Grumman Corp 500 50 09-Aug-2011
1,500 150 09-Aug-2011
500 50 18-Aug-2012
1,775 355 29-Aug-2013
Serco Serco Group PLC 364 146 17-Jun-2011
121 49 17-Jun-2011
1,159 72 21-Feb-2012
ThyssenKrupp ThyssenKrupp AG 2,751 75 07-Mar-2014
URS URS Corp 500 43 02-Mar-2012

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

The table below provides an overview of the underwriting of bond issuances by Royal Bank of Scotland (United Kingdom) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Royal Bank of Scotland

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
BAE Systems BAE Systems PLC 619 155 30-May-2012
Boeing Boeing Capital Corp 250 33 28-Jul-2011
Boeing Co 350 10 30-Apr-2013
Finmeccanica Finmeccanica Finance SA 339 20 17-Jan-2014
777 71 28-Nov-2012
950 59 26-Nov-2013
General Dynamics General Dynamics Corp 500 40 07-May-2011
500 40 07-May-2011
500 40 07-May-2011
500 50 11-Jan-2012
900 90 11-Jan-2012
1,000 100 11-Jan-2012
Honeywell International Honeywell International Inc 300 30 18-Nov-2013
700 70 18-Nov-2013
600 33 14-Feb-2011
800 44 14-Feb-2011
Northrop Grumman Huntington Ingalls Ind Inc 600 60 03-Apr-2011
600 60 03-Apr-2011
Northrop Grumman Corp 850 57 28-May-2013
950 63 28-May-2013
1,050 70 28-May-2013
Raytheon Raytheon Co 425 43 29-Nov-2011
575 58 29-Nov-2011
1,100 60 27-Nov-2012
Serco Serco Group PLC 20 10 13-May-2013
70 23 12-Jun-2011
35 13-May-2013
125 42 12-Jun-2011
140 47 12-Jun-2011
150 75 13-May-2013
ThyssenKrupp ThyssenKrupp AG 1,654 414 21-Feb-2012

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

Royal Capital Management (United States)

Royal Capital Management has made an estimated 11 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 Royal 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 Royal Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 11 0.95 30-Jun-2014

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

Ruane, Cunniff & Goldfarb (United States)

Ruane, Cunniff & Goldfarb has made an estimated 381 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 Ruane, Cunniff & Goldfarb (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Ruane, Cunniff & Goldfarb

Company Country Total value (US$ mln) % Outstanding Filing date
Jacobs Engineering United States 210 2.97 30-Jun-2014
Serco United Kingdom 171 5.05 14-Jul-2014

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

Ruffer (United Kingdom)

Ruffer has made an estimated 584 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 Ruffer (United Kingdom) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Ruffer

Company Country Total value (US$ mln) % Outstanding Filing date
General Dynamics United States 214 0.55 30-Jun-2014
Lockheed Martin United States 370 0.73 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.