Exhibit 21
 
Subsidiaries of the Registrant
 
The following are subsidiaries of ML & Co. as of December 28, 2007 and the states or jurisdictions in which they are organized. Indentation indicates the principal parent of each subsidiary. Except as otherwise specified, in each case ML & Co. owns, directly or indirectly, at least 99% of the voting securities of each subsidiary. The names of particular subsidiaries have been omitted because, considered in the aggregate as a single subsidiary, they would not constitute, as of the end of the year covered by this report, a “significant subsidiary” as that term is defined in Rule 1.02(w) of Regulation S-X under the Securities Exchange Act of 1934.
 
         
Name
 
State or Jurisdiction of Entity
 
Merrill Lynch & Co., Inc. 
      Delaware
Merrill Lynch, Pierce, Fenner & Smith Incorporated1
      Delaware
Merrill Lynch Life Agency Inc.2
      Washington
Merrill Lynch Professional Clearing Corp.3
      Delaware
ML Petrie Parkman Co., Inc. 
      Delaware
Merrill Lynch Capital Services, Inc. 
      Delaware
MLCI Holdings, Inc. 
      Delaware
Merrill Lynch Commodities, Inc. 
      Delaware
ML Energy Fund Management, LLC
      Delaware
ML Energy Partners, LLC
      Delaware
Merrill Lynch Government Securities Inc. 
      Delaware
Merrill Lynch Money Markets Inc. 
      Delaware
Merrill Lynch Bank & Trust Co., FSB
      Federal
ML Private Finance LLC
      Delaware
Merrill Lynch Mortgage and Investment Corporation4
      Delaware
Merrill Lynch Community Development Company, LLC
  New Jersey
Merrill Lynch Credit Corporation
      Delaware
ML Mortgage Holdings Inc. 
      Delaware
FF Mortgage Corporation
      Delaware
First Franklin Financial Corporation
      Delaware
Home Loan Services, Inc. 
      Delaware
First Republic Investment Management, Inc. 
      New York
First Republic Preferred Capital Corporation
      Nevada
First Republic Preferred Capital Corporation II
      Nevada
First Republic Securities Company, LLC
      Nevada
First Republic Wealth Advisors, LLC
      Nevada
Merrill Lynch Group, Inc. 
      Delaware
Merrill Lynch Holdings (Mauritius)5
      Mauritius
Apex Securities Company Limited
      Thailand
Investor Protection Insurance Company
      Vermont
Merrill Lynch Credit Reinsurance Limited
      Bermuda
FAM Distributors, Inc. 
      Delaware
Merrill Lynch Investment Holdings (Mauritius) Limited6
      Mauritius
 
 
1  Also conducts business under the name “Merrill Lynch & Co.”
2  Similarly named subsidiaries that engage in the sale of insurance and annuity products are incorporated in various other jurisdictions.
3  The preferred stock of the corporation is owned by an unaffiliated group of investors.
4  14.617% of this entity is held by Merrill Lynch Bank USA.
5  Partially held by another direct subsidiary of ML&Co.
6  Merrill Lynch Group, Inc. and Merrill Lynch International Incorporated each hold fifty percent of this entity.


 

         
Name
 
State or Jurisdiction of Entity
 
Merrill Lynch (Mauritius) Investments Limited
      Mauritius
DSP Merrill Lynch Limited7
      Mumbai, India
DSP Merrill Lynch Capital Limited
      Mumbai, India
DSP Merrill Lynch Securities Trading Limited
  Mumbai, India
DSP Merrill Lynch Trust Services Limited
      Mumbai, India
ML Invest, Inc. 
      Delaware
Merrill Lynch Investment Managers Group Services Limited
  England
Merrill Lynch Investment Managers (Finance) Limited
  England
Merrill Lynch Investment Managers Holdings B.V.
  Netherlands
Merrill Lynch Portfolio Managers Limited
      England
Merrill Lynch Bank USA
      Utah
Financial Data Services, Inc. 
      Florida
Merrill Lynch Business Financial Services Inc.
      Delaware
Merrill Lynch Commercial Finance Corp. 
      Delaware
Merrill Lynch Utah Investment Corporation
      Utah
MLBUSA Community Development Corp. 
      Delaware
MLBUSA Funding Corporation
      Delaware
Merrill Lynch NJ Investment Corporation
      New Jersey
Merrill Lynch Insurance Group, Inc. 
      Delaware
Merrill Lynch Insurance Group Services, Inc. 
      Delaware
Roszel Advisors, LLC
      Delaware
Merrill Lynch European Asset Holdings Inc. 
      Delaware
Merrill Lynch Yatirim Bank A.S.
      Turkey
Merrill Lynch Group Holdings Limited
      Ireland
Merrill Lynch International Bank Limited8
      Ireland
Majestic Acquisitions Limited
      England
Mortgage Holdings Limited
      England
Mortgages plc
      England
Mortgages 1 Limited
      England
Merrill Lynch Bank (Suisse) S.A. 
      Switzerland
Merrill Lynch Diversified Investments, LLC
      Delaware
Merrill Lynch Credit Products, LLC
      Delaware
Merrill Lynch Mortgage Capital Inc. 
      Delaware
Merrill Lynch Mortgage Lending, Inc. 
      Delaware
Wilshire Credit Corporation
      Delaware
MLDP Holdings, Inc. 
      Delaware
Merrill Lynch Derivative Products AG
      Switzerland
ML IBK Positions, Inc. 
      Delaware
Merrill Lynch PCG, Inc. 
      Delaware
Merrill Lynch Capital Corporation
      Delaware
ML Leasing Equipment Corp.9
      Delaware
Merrill Lynch Canada Holdings Company
      Nova Scotia, Canada
Merrill Lynch Canada Finance Company10
      Nova Scotia, Canada
Merrill Lynch & Co., Canada Ltd. 
      Ontario, Canada
Midland Walwyn Inc.11
      Canada
Merrill Lynch Financial Assets Inc. 
      Canada
 
 
7   Partially held by another indirect subsidiary of ML&Co.
8   Held through several intermediate holding companies.
9   This corporation has 20 direct or indirect subsidiaries operating in the United States and serving as either general partners or associate general partners of limited partnerships.
10  Held through several intermediate holding companies.
11  Partially held by Merrill Lynch Canada Holdings Company.


 

         
Name
 
State or Jurisdiction of Entity
 
Merrill Lynch Canada Inc.12
      Canada
Merrill Lynch International Incorporated
      Delaware
OOO Merrill Lynch Securities13
      Russia
Merrill Lynch Futures Asia Limited
      Taiwan
Merrill Lynch Reinsurance Solutions LTD
      Bermuda
Merrill Lynch (Australasia) Pty. Ltd. 
      New South Wales, Australia
Merrill Lynch Finance (Australia) Pty Limited
      Victoria, Australia
Merrill Lynch Markets (Australia) Pty Limited
      New South Wales, Australia
Equity Margins Ltd. 
      Victoria, Australia
Merrill Lynch (Australia) Pty Ltd
      New South Wales, Australia
Merrill Lynch Equities (Australia) Limited
      Victoria, Australia
Merrill Lynch Private (Australia) Limited
      New South Wales, Australia
Berndale Securities Limited
      Victoria, Australia
Merrill Lynch (Australia) Nominees Pty. Limited
  New South Wales, Australia
Merrill Lynch International (Australia) Limited
      New South Wales, Australia
Merrill Lynch (Australia) Futures Limited
      New South Wales, Australia
Merrill Lynch Japan Securities Co., Ltd. 
      Japan
Merrill Lynch Japan Finance Co., Ltd. 
      Japan
Merrill Lynch International Holdings Inc. 
      Delaware
Nihonbashi Loan Service Corporation
      Japan
Nihonbashi Residential Mortgage Corporation
      Japan
Merrill Lynch Singapore Commodities Pte. Ltd. 
      Singapore
Merrill Lynch France SAS
      France
Merrill Lynch Capital Markets (France) SAS
      France
Merrill Lynch, Pierce, Fenner & Smith SAS
      France
Merrill Lynch Mexico, S.A. de C.V., Casa de Bolsa
      Mexico
PT Merrill Lynch Indonesia14
      Indonesia
Merrill Lynch HK Services Limited
      Hong Kong
Merrill Lynch (Asia Pacific) Limited
      Hong Kong
Merrill Lynch Far East Limited
      Hong Kong
Merrill Lynch Futures (Hong Kong) Limited
      Hong Kong
ML Cayman Holdings Inc. 
      Cayman Islands, British West Indies
Merrill Lynch International & Co. C.V.15
      Netherlands Antilles
Merrill Lynch Bank and Trust Company (Cayman) Limited
  Cayman Islands, British West Indies
Institucion Financiera Externa Merrill Lynch Bank
Uruguay S.A. 
  Uruguay
Merrill Lynch Espanola Agencia de Valores S.A. 
  Spain
Merrill Lynch Capital Markets AG16
      Switzerland
 
 
12  Held through several intermediate holding companies.
13  Partially held by another indirect subsidiary of Merrill Lynch International Incorporated.
14  Merrill Lynch International Holdings Inc. has an 80% stake in this entity through a joint venture.
15  Partially held by another indirect subsidiary of ML&Co.
16  Also conducts business under the names “Merrill Lynch Capital Markets S.A.” and “Merrill Lynch Capital Markets Ltd.”


 

         
Name
 
State or Jurisdiction of Entity
 
Merrill Lynch Europe PLC
      England
Merrill Lynch, Pierce, Fenner & Smith Limited
      England
Merrill Lynch Global Asset Management Limited
  England
ML UK Capital Holdings17
      England
Merrill Lynch International18
      England
Merrill Lynch Europe Intermediate Holdings
      England
Merrill Lynch Capital Markets Espana S.A., S.V.
  Spain
Merrill Lynch Holdings Limited
      England
Merrill Lynch Commodities (Europe) Holdings Limited
  England
Merrill Lynch Commodities (Europe) Limited
  England
Merrill Lynch Commodities (Europe) Trading Limited
  England
Merrill Lynch Commodities GmbH
      England
Merrill Lynch (Singapore) Pte. Ltd.19
      Singapore
Merrill Lynch South Africa (Proprietary) Limited20
  South Africa
Merrill Lynch Argentina S.A.21
      Argentina
Merrill Lynch, Pierce, Fenner & Smith de Argentina
  Argentina
Sociedad Anonima, Financiera, Mobiliaria y de Mandatos22
   
Banco Merrill Lynch de Investimentos S.A.23
      Brazil
Merrill Lynch S.A. Corretora de Titulos e Valores Mobiliarios
  Brazil
Merrill Lynch S.A.24
      Luxembourg
Merrill Lynch Europe Ltd. 
      Cayman Islands, British West Indies
Herzog, Heine, Geduld, LLC
      Delaware
Merrill Lynch Financial Markets, Inc. 
      Delaware
The Princeton Retirement Group , Inc. 
      Delaware
 
 
17  Held through several intermediate holding companies.
18  Partially held by another indirect subsidiary of ML&Co.
19  Held through intermediate subsidiaries.
20  Held through intermediate subsidiaries.
21  Partially held by another direct subsidiary of ML&Co.
22  Partially held by another direct subsidiary of ML&Co.
23  Partially held by another direct subsidiary of ML&Co.
24  Partially held by another indirect subsidiary of ML&Co.