Exhibit 23

INDEPENDENT AUDITORS’ CONSENT
 

We consent to the incorporation by reference in the following Registration Statements of Merrill Lynch & Co., Inc. and subsidiaries (“Merrill Lynch”) of our reports dated March 1, 2004 (which express an unqualified opinion and which report on the consolidated financial statements includes an explanatory paragraph for the change in accounting method in 2002 for goodwill amortization to conform to Statement of Financial Accounting Standards No. 142, Goodwill and Other Intangible Assets), appearing in and incorporated by reference in this Annual Report on Form 10-K of Merrill Lynch for the year ended December 26, 2003.

Filed on Form S-8:

         
Registration Statement No. 33-41942 (1986 Employee Stock Purchase Plan)
        
 
        
Registration Statement No. 33-17908 (Incentive Equity Purchase Plan)
        
 
        
Registration Statement No. 33-33336 (Long-Term Incentive Compensation Plan)
        
 
        
Registration Statement No. 33-51831 (Long-Term Incentive Compensation Plan)
        
 
        
Registration Statement No. 33-51829 (401(k) Savings and Investment Plan)
        
 
        
Registration Statement No. 33-54154 (Non-Employee Directors’ Equity Plan)
        
 
        
Registration Statement No. 33-54572 (401(k) Savings and Investment Plan (Puerto Rico))
        
 
        
Registration Statement No. 33-56427 (Amended and Restated 1994 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 33-55155 (1995 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 33-60989 (1996 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-00863 (401(k) Savings & Investment Plan)
        
 
        
Registration Statement No. 333-09779 (1997 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-13367 (Restricted Stock Plan for Former Employees of Hotchkis and Wiley)
        
 
        

 

 

         
Registration Statement No. 333-15009 (1997 KECALP Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-17099 (Deferred Unit and Stock Unit Plan for Non-Employee Directors)
        
 
        
Registration Statement No. 333-18915 (Long-Term Incentive Compensation Plan for Managers and Producers)
        
 
        
Registration Statement No. 333-32209 (1998 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-33125 (Employee Stock Purchase Plan for Employees of Merrill Lynch Partnerships)
        
 
        
Registration Statement No. 333-41425 (401(k) Savings & Investment Plan)
        
 
        
Registration Statement No. 333-56291 (Long-Term Incentive Compensation Plan for Managers and Producers)
        
 
        
Registration Statement No. 333-60211 (1999 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-62311 (Replacement Options; Midland Walwyn Inc.)
        
 
        
Registration Statement No. 333-85421 (401(k) Savings and Investment Plan)
        
 
        
Registration Statement No. 333-85423 (2000 Deferred Compensation Plan For a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-92663 (Long-Term Incentive Compensation Plan for Managers and Producers)
        
 
        
Registration Statement No. 333-44912 (2001 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-64676 (1986 Employee Stock Purchase Plan)
        
 
        
Registration Statement No. 333-64674 (Long-Term Incentive Compensation Plan for Managers and Producers)
        
 
        
Registration Statement No. 333-68330 (2002 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-99105 (2003 Deferred Compensation Plan for a Select Group of Eligible Employees)
        

2

 

         
Registration Statement No. 333-108296 (2004 Deferred Compensation Plan for a Select Group of Eligible Employees)
        
 
        
Registration Statement No. 333-109236 (Employee Stock Compensation Plan)
        

Filed on Form S-3:

         
Debt Securities, Warrants, Common Stock, Preferred Securities, and/or Depository Shares:
        
 
        
Registration Statement No. 33-54218
        
 
        
Registration Statement No. 2-78338
        
 
        
Registration Statement No. 2-89519
        
 
        
Registration Statement No. 2-83477
        
 
        
Registration Statement No. 33-03602
        
 
        
Registration Statement No. 33-17965
        
 
        
Registration Statement No. 33-27512
        
 
        
Registration Statement No. 33-33335
        
 
        
Registration Statement No. 33-35456
        
 
        
Registration Statement No. 33-42041
        
 
        
Registration Statement No. 33-45327
        
 
        
Registration Statement No. 33-45777
        
 
        
Registration Statement No. 33-49947
        
 
        
Registration Statement No. 33-51489
        
 
        
Registration Statement No. 33-52647
        
 
        
Registration Statement No. 33-55363
        
 
        
Registration Statement No. 33-60413
        
 
        
Registration Statement No. 33-61559
        
 
        
Registration Statement No. 33-65135
        
 
        
Registration Statement No. 333-13649
        

3

 

         
Registration Statement No. 333-16603
        
 
        
Registration Statement No. 333-20137
        
 
        
Registration Statement No. 333-25255
        
 
        
Registration Statement No. 333-28537
        
 
        
Registration Statement No. 333-42859
        
 
        
Registration Statement No. 333-44173
        
 
        
Registration Statement No. 333-59997
        
 
        
Registration Statement No. 333-68747
        
 
        
Registration Statement No. 333-38792
        
 
        
Registration Statement No. 333-52822
        
 
        
Registration Statement No. 333-83374
        
 
        
Registration Statement No. 333-97937
        
 
        
Registration Statement No. 333-105098
        
 
        
Registration Statement No. 333-109802
        
 
        
Medium Term Notes:
        
 
        
Registration Statement No. 2-96315
        
 
        
Registration Statement No. 33-03079
        
 
        
Registration Statement No. 33-05125
        
 
        
Registration Statement No. 33-09910
        
 
        
Registration Statement No. 33-16165
        
 
        
Registration Statement No. 33-19820
        
 
        
Registration Statement No. 33-23605
        
 
        
Registration Statement No. 33-27549
        
 
        
Registration Statement No. 33-38879
        
 
        

4

 

         
Other Securities:
        
 
        
Registration Statement No. 333-02275 (Long-Term Incentive Compensation Plan)
        
 
        
Registration Statement No. 333-24889 (Long-Term Incentive Compensation Plan, and Long-Term Incentive Compensation Plan for Managers and Producers)
        
 
        
Registration Statement No. 333-36651 (Hotchkis and Wiley Resale)
        
 
        
Registration Statement No. 333-59263 (Exchangeable Shares of Merrill Lynch & Co., Canada Ltd. re: Midland Walwyn Inc.)
        
 
        
Registration Statement No. 333-67903 (Howard Johnson & Company Resale)
        
 
        
Registration Statement No. 333-45880 (Herzog, Heine, Geduld, Inc. Resale)
        

      

/s/ Deloitte & Touche LLP

New York, New York
March 9, 2004

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