Hall of Shame – W

The following financial institutions beginning with “W” 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.

 

W.T.B. Financial (United States)

W.T.B. Financial 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 W.T.B. Financial (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by W.T.B. Financial

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 21 0.66 30-Jun-2014

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

Waddell & Reed Financial (United States)

Waddell & Reed Financial has made an estimated 718 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 Waddell & Reed Financial (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Waddell & Reed Financial

Company Country Total value (US$ mln) % Outstanding Filing date
Boeing United States 633 0.69 30-Jun-2014
Jacobs Engineering United States 85 1.21 30-Jun-2014

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

Water Street Capital (United States)

Water Street Capital has made an estimated 16 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 Water Street Capital (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Water Street Capital

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 16 1.39 30-Jun-2014

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

Wedge Capital Management (United States)

Wedge Capital Management has made an estimated 230 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 Wedge 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 Wedge Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Huntington Ingalls United States 59 1.28 30-Jun-2014
URS United States 171 5.39 30-Jun-2014

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

Wellington Management (United States)

Wellington Management has made an estimated 6,669 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 Wellington Management (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Wellington Management

Company Country Total value (US$ mln) % Outstanding Filing date
AECOM United States 95 2.96 30-Jun-2014
General Dynamics United States 613 1.57 30-Jun-2014
Honeywell International United States 1,953 2.68 30-Jun-2014
Jacobs Engineering United States 142 2.00 30-Jun-2014
Lockheed Martin United States 1,443 2.83 30-Jun-2014
Northrop Grumman United States 764 3.07 30-Jun-2014
Raytheon United States 1,089 3.80 30-Jun-2014
Safran France 186 0.68 30-Jun-2014
Textron United States 384 3.59 30-Jun-2014

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

Wells Fargo (United States)

Wells Fargo has made an estimated 5,666 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 Wells Fargo (United States) to the nuclear weapon companies since January 2011.

Loans provided by Wells Fargo

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology 1,187 95 11-Aug-2014
1,050 84 11-Aug-2014
750 20 07-Jun-2013
600 40 23-Sep-2011
1,050 39 29-Jan-2014
1,050 158 13-Jul-2011
Alliant Techsystems Alliant Techsystems Inc 250 25 08-Oct-2013
700 47 08-Oct-2013
1,010 67 08-Oct-2013
200 20 03-Sep-2012
150 7 24-Jun-2014
Babcock & Wilcox The Babcock & Wilcox Co 700 70 22-May-2012
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
CH2M CH2M Hill Cos Ltd 900 135 19-Apr-2012
1,100 220 22-Mar-2014
Gencorp GenCorp Inc 100 8 30-May-2014
200 15 30-May-2014
50 13 16-Aug-2012
50 10 18-Nov-2011
150 30 18-Nov-2011
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
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 1,160 155 23-Mar-2012
460 39 07-Feb-2014
1,140 62 07-Feb-2014
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 08-Sep-2011
1,500 150 08-Sep-2011
500 50 18-Aug-2012
1,775 355 29-Aug-2013
Textron Textron Inc 500 25 23-Jan-2014
1,000 75 30-Sep-2013
URS URS Corp 500 43 02-Mar-2012
700 70 14-Oct-2011
1,000 100 14-Oct-2011
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 underwriting of bond issuances by Wells Fargo (United States) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Wells Fargo

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
AECOM AECOM Technology Corp 800 80 17-Sep-2014
800 80 17-Sep-2014
Alliant Techsystems Alliant Techsystems Inc 300 50 22-Oct-2013
Boeing Boeing Capital Corp 250 9 28-Jul-2011
500 18 28-Jul-2011
Boeing Co 350 10 30-Apr-2013
Fluor Fluor Corp 500 20 09-Aug-2011
Gencorp GenCorp Inc 460 115 18-Jan-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 10 18-Nov-2013
700 23 18-Nov-2013
Lockheed Martin Lockheed Martin Corp 500 40 09-Jun-2011
600 48 09-Jun-2011
900 72 09-Jun-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
Textron Textron Inc 250 19 23-Jan-2014
350 26 23-Jan-2014
URS URS Corp 400 100 03-Aug-2012
600 150 03-Aug-2012

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

Shareholdings managed by Wells Fargo

Company Country Total value (US$ mln) % Outstanding Filing date
Babcock & Wilcox United States 82 2.35 30-Jun-2014
General Dynamics United States 448 1.15 30-Jun-2014
Huntington Ingalls United States 119 2.59 30-Jun-2014

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

Western & Southern Mutual (United States)

Western & Southern Mutual has made an estimated 233 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 Western & Southern Mutual (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Western & Southern Mutual

Company Country Total value (US$ mln) % Outstanding Filing date
Alliant Techsystems United States 77 1.80 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 Western & Southern Mutual (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Western & Southern Mutual

Company Country Total value (US$ mln) % Outstanding Filing date
Northrop Grumman United States 29 0.66 31-Mar-2014
Raytheon United States 27 0.51 31-Mar-2014

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

Westpac Banking (Australia)

Westpac Banking has made an estimated 380 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 Westpac Banking (Australia) to the nuclear weapon companies since January 2011.

Loans provided by Westpac Banking

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Airbus Group EADS 4,345 76 14-Mar-2011
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
4,000 73 18-Nov-2013
URS URS Corp 700 35 14-Oct-2011
1,000 50 14-Oct-2011

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

White Mountains Insurance (Bermuda)

White Mountains Insurance 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 White Mountains Insurance (Bermuda) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by White Mountains Insurance

Company Country Total value (US$ mln) % Outstanding Filing date
Honeywell International United States 32 0.51 31-Mar-2014
Raytheon United States 61 1.16 31-Mar-2014
Rockwell Collins United States 11 0.68 31-Mar-2014

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

William Blair & Company (United States)

William Blair & Company has made an estimated 98 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 William Blair & Company (United States) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by William Blair & Company

Company Country Total value (US$ mln) % Outstanding Filing date
Jacobs Engineering United States 98 1.39 30-Jun-2014

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

Williams Capital Group (United States)

Williams Capital Group has made an estimated 391 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 Williams Capital Group (United States) for the nuclear weapon companies since January 2011.

Underwriting of bond issuances by Williams Capital Group

Company Subsidiary Total value (US$ mln) Est. participation of this bank (US$ mln) Date
Boeing Boeing Capital Corp 250 9 28-Jul-2011
Boeing Co 350 10 30-Apr-2013
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 Northrop Grumman Corp 850 26 28-May-2013
950 29 28-May-2013
1,050 32 28-May-2013
Textron Textron Inc 250 25 14-Sep-2011
250 25 14-Sep-2011
250 19 23-Jan-2014
350 26 23-Jan-2014

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

Winslow Asset Management (United States)

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

Shareholdings managed by Winslow Asset Management

Company Country Total value (US$ mln) % Outstanding Filing date
Gencorp United States 21 1.83 30-Jun-2014

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

Winton Capital Management (United Kingdom)

Winton Capital Management has made an estimated 211 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 Winton Capital Management (United Kingdom) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Winton Capital Management

Company Country Total value (US$ mln) % Outstanding Filing date
Leidos United States 73 2.54 30-Jun-2014
Northrop Grumman United States 138 0.55 30-Jun-2014

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

Woodford Investment Management (United Kingdom)

Woodford Investment Management has made an estimated 103 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 Woodford Investment Management (United Kingdom) owns or manages 0.50% or more of the outstanding shares at the most recent available filing date.

Shareholdings managed by Woodford Investment Management

Company Country Total value (US$ mln) % Outstanding Filing date
Serco United Kingdom 103 3.04 10-Jul-2014

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

Woodmen of the World and/or Omaha Woodmen Life Insurance Society (United States)

Woodmen of the World and/or Omaha Woodmen Life Insurance Society 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 Woodmen of the World and/or Omaha Woodmen Life Insurance Society (United States) owns or manages 0.50% or more of the outstanding bonds at the most recent available filing date.

Bondholdings managed by Woodmen of the World and/or Omaha Woodmen Life Insurance Society

Company Country Total value (US$ mln) % Outstanding Filing date
Leidos United States 9 0.69 31-Mar-2014

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