Hall of Shame – T

The following financial institutions beginning with “T” 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.

T. Rowe Price (United States)

  1. Rowe Price has made an estimated 8,543 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 T. Rowe Price (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by T. Rowe Price

Company Country Total value (US$ mln) % Outstanding Filing date
Babcock & Wilcox United States 544 15.61 30-Jun-2014
Boeing United States 4,680 5.10 30-Jun-2014
Gencorp United States 6 0.51 30-Jun-2014
Honeywell International United States 1,573 2.16 30-Jun-2014
Jacobs Engineering United States 100 1.41 30-Jun-2014
Raytheon United States 214 0.75 30-Jun-2014
Serco United Kingdom 98 2.39 26-Nov-2013
Textron United States 1,310 12.25 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 T. Rowe Price (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by T. Rowe Price

Company Country Total value (US$ mln) % Outstanding Filing date
Textron United States 18 0.82 30-Jun-2014

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

Taiwan Business Bank (Taiwan)

Taiwan Business Bank has made an estimated 66 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 Taiwan Business Bank (Taiwan) to the nuclear weapon companies since January 2011.

Loans provided by Taiwan Business Bank

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology 750 20 07-Jun-2013
Northrop Grumman Huntington Ingalls Ind Inc 575 22 31-Mar-2011
650 24 31-Mar-2011

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

Taiwan Cooperative Financial (Taiwan)

Taiwan Cooperative Financial has made an estimated 66 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 Taiwan Cooperative Financial (Taiwan) to the nuclear weapon companies since January 2011.

Loans provided by Taiwan Cooperative Financial

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology 750 20 07-Jun-2013
Northrop Grumman Huntington Ingalls Ind Inc 575 22 31-Mar-2011
650 24 31-Mar-2011

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

Taiwan Financial Holding (Taiwan)

Taiwan Financial Holding has made an estimated 41 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 Taiwan Financial Holding (Taiwan) to the nuclear weapon companies since January 2011.

Loans provided by Taiwan Financial Holding

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology 750 41 07-Jun-2013

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

Thales SA Employees Stock Ownership Plan (France)

Thales SA Employees Stock Ownership Plan has made an estimated 281 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 Thales SA Employees Stock Ownership Plan (France) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Thales SA Employees Stock Ownership Plan

Company Country Total value (US$ mln) % Outstanding Filing date
Thales France 281 2.11 31-Dec-2013

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

The London Company of Virginia (United States)

The London Company of Virginia has made an estimated 182 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 The London Company of Virginia (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by The London Company of Virginia

Company Country Total value (US$ mln) % Outstanding Filing date
Alliant Techsystems United States 182 4.25 30-Jun-2014

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

The Phoenix Companies (United States)

The Phoenix Companies has made an estimated 7 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 The Phoenix Companies (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by The Phoenix Companies

Company Country Total value (US$ mln) % Outstanding Filing date
Leidos United States 7 0.54 31-Mar-2014

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

The Travelers Companies (United States)

The Travelers Companies has made an estimated 63 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 The Travelers Companies (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by The Travelers Companies

Company Country Total value (US$ mln) % Outstanding Filing date
Fluor United States 8 0.98 31-Mar-2014
General Dynamics United States 36 0.92 31-Mar-2014
Leidos United States 10 0.74 31-Mar-2014
Rockwell Collins United States 9 0.55 31-Mar-2014

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

Thrivent Financial (United States)

Thrivent Financial has made an estimated 202 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 Thrivent Financial (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Thrivent Financial

Company Country Total value (US$ mln) % Outstanding Filing date
Fluor United States 122 1.01 30-Jun-2014
Huntington Ingalls United States 29 0.64 30-Jun-2014
Jacobs Engineering United States 51 0.72 30-Jun-2014

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

TIAA-CREF (United States)

TIAA-CREF has made an estimated 3,354 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 TIAA-CREF (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by TIAA-CREF

Company Country Total value (US$ mln) % Outstanding Filing date
Alliant Techsystems United States 52 1.21 30-Jun-2014
Boeing United States 651 0.71 30-Jun-2014
Gencorp United States 6 0.54 30-Jun-2014
General Dynamics United States 317 0.81 30-Jun-2014
Honeywell International United States 933 1.28 30-Jun-2014
Huntington Ingalls United States 68 1.47 30-Jun-2014
Larsen & Toubro India 160 0.61 30-Jun-2014
Northrop Grumman United States 159 0.64 30-Jun-2014
Raytheon United States 159 0.56 30-Jun-2014
Rockwell Collins United States 72 0.68 30-Jun-2014
Textron United States 231 2.16 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 TIAA-CREF (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by TIAA-CREF

Company Country Total value (US$ mln) % Outstanding Filing date
BAE Systems United Kingdom 75 2.27 31-Mar-2014
Boeing United States 50 0.76 31-Mar-2014
Fluor United States 25 3.01 31-Mar-2014
General Dynamics United States 32 0.82 31-Mar-2014
Huntington Ingalls United States 50 4.18 31-Mar-2014
Lockheed Martin United States 52 0.54 31-Mar-2014
Northrop Grumman United States 141 3.24 31-Mar-2014
Raytheon United States 44 0.84 31-Mar-2014
Rockwell Collins United States 77 4.66 31-Mar-2014

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

Tiger Management (United States)

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

Shareholdings managed by Tiger Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 15 1.36 30-Jun-2014

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

Toronto-Dominion Bank (Canada)

Toronto-Dominion Bank has made an estimated 1,076 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 Toronto-Dominion Bank (Canada) to the nuclear weapon companies since January 2011.

Loans provided by Toronto-Dominion Bank

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Airbus Group EADS 4,345 76 14-Mar-2011
Babcock & Wilcox The Babcock & Wilcox Co 700 32 22-May-2012
BAE Systems BAE Systems PLC 3,269 82 12-Dec-2013
General Dynamics General Dynamics Corp 1,000 125 21-Jun-2013
1,000 35 14-Jul-2011
43 14-Jul-2011
Honeywell International Honeywell International Inc 3,000 129 30-Mar-2012
4,000 73 18-Nov-2013
Huntington Ingalls Huntington Ingalls Ind Inc 489 27 23-Sep-2013
650 35 23-Sep-2013
Jacobs Engineering Jacobs Engineering Group Inc 460 39 07-Feb-2014
1,140 62 07-Feb-2014
Northrop Grumman Huntington Ingalls Ind Inc 575 22 31-Mar-2011
650 24 31-Mar-2011

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

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

Underwriting of bond issuances by Toronto-Dominion Bank

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
General Dynamics General Dynamics Corp 500 19 07-May-2011
500 19 07-May-2011
500 19 07-May-2011
500 21 11-Jan-2012
900 39 11-Jan-2012
1,000 43 11-Jan-2012
Honeywell International Honeywell International Inc 300 10 18-Nov-2013
700 23 18-Nov-2013
Northrop Grumman Huntington Ingalls Ind Inc 600 40 03-Apr-2011
600 40 03-Apr-2011

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

Trimaran Capital Partners (United States)

Trimaran Capital Partners has made an estimated 13 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 Trimaran Capital Partners (United States) to the nuclear weapon companies since January 2011.

Loans provided by Trimaran Capital Partners

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Alliant Techsystems Alliant Techsystems Inc 200 13 03-Sep-2012

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

Trust Investment Advisors (United States)

Trust Investment Advisors has made an estimated 154 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 Trust Investment Advisors (United States) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Trust Investment Advisors

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Larsen & Toubro L&T Finance Holdings Ltd 51 10 14-Dec-2012
L&T Finance Ltd 5 5 01-Jul-2013
5 5 18-Dec-2012
5 2 15-Dec-2011
6 2 15-Dec-2011
8 2 20-Mar-2014
17 9 10-Nov-2013
30 10 15-Dec-2011
41 41 26-Jun-2013
45 15 15-Dec-2011
13 4 27-Jul-2012
26 13 27-Apr-2012
L&T Fincorp Ltd 2 1 06-Mar-2014
3 1 06-Mar-2014
4 4 27-Jun-2013
5 5 26-Mar-2013
25 25 26-Jun-2013

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

Two Sigma Investments (United States)

Two Sigma Investments has made an estimated 232 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 Two Sigma Investments (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Two Sigma Investments

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 17 0.54 30-Jun-2014
Alliant Techsystems United States 106 2.48 30-Jun-2014
Huntington Ingalls United States 33 0.72 30-Jun-2014
Jacobs Engineering United States 47 0.67 30-Jun-2014
Leidos United States 29 1.00 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.