EXHIBIT 21 Subsidiaries of the Registrant ------------------------------ The following are subsidiaries of ML & Co. as of February 26, 2002 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 Incorporated/1/ Delaware Broadcort Capital Corp. Delaware Merrill Lynch Life Agency Inc./2/ Washington Merrill Lynch Professional Clearing Corp./3/ Delaware Merrill Lynch Capital Services, Inc. Delaware Merrill Lynch Government Securities, Inc. Delaware Merrill Lynch Money Markets Inc. Delaware Merrill Lynch Group, Inc. Delaware Merrill Lynch Investment Managers Group Limited/4/ England Merrill Lynch Investment Managers Holdings Limited England Merrill Lynch Investment Managers Limited England Merrill Lynch Investment Managers, L.P./5/ Delaware MLIM Alternative Strategies LLC Delaware Merrill Lynch Capital Partners, Inc. Delaware Merrill Lynch Bank & Trust Co. New Jersey Merrill Lynch Insurance Group, Inc. Delaware Merrill Lynch Life Insurance Company Arkansas ML Life Insurance Company of New York New York Merrill Lynch International Finance Corporation New York Merrill Lynch International Bank Limited England Merrill Lynch Bank (Suisse) S.A. Switzerland Merrill Lynch Group Holdings Limited Ireland Merrill Lynch Capital Markets Bank Limited Ireland Merrill Lynch Mortgage Capital Inc. Delaware Merrill Lynch Trust Company FSB New Jersey MLDP Holdings, Inc./6/ Delaware Merrill Lynch Derivative Products AG Switzerland ML IBK Positions, Inc. Delaware Merrill Lynch Capital Corporation Delaware
- ---------- 1 MLPF&S also conducts business as "Merrill Lynch & Co." 2 Similarly named affiliates and subsidiaries that engage in the sale of life 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 Held through several intermediate holding companies. 5 Merrill Lynch Investment Managers, L.P. is a limited partnership whose general partner is Princeton Services, Inc. and whose limited partner is ML & Co. 6 Merrill Lynch Group, Inc. owns 100% of this corporation's outstanding common voting stock. 100% of the outstanding preferred voting stock is held by outside parties. ML Leasing Equipment Corp./7/ Delaware Merrill Lynch Canada Holdings Company Nova Scotia Merrill Lynch Canada Finance Company Nova Scotia Merrill Lynch & Co., Canada Ltd. Ontario Merrill Lynch Canada Inc. Canada Merrill Lynch Bank USA Utah Merrill Lynch Business Financial Services Inc. Delaware Merrill Lynch Credit Corporation Delaware Merrill Lynch New Jersey Investment Corporation New Jersey Merrill Lynch Utah Investment Corporation Utah Merrill Lynch International Incorporated Delaware Merrill Lynch (Australasia) Pty Limited New South Wales, Australia Merrill Lynch Finance (Australia) Pty Limited Victoria, Australia Merrill Lynch International (Australia) Limited/8/ New South Wales, Australia Merrill Lynch International Holdings Inc. Delaware Merrill Lynch Bank and Trust Company (Cayman) Limited Cayman Islands, British West Indies Merrill Lynch Capital Markets AG Switzerland Merrill Lynch Europe PLC England Merrill Lynch Holdings Limited England Merrill Lynch International/9/ England Merrill Lynch Capital Markets Espana S.A. S.V.B. Spain Merrill Lynch (Singapore) Pte. Ltd./10/ Singapore Merrill Lynch South Africa (Pty) Ltd./11/ South Africa Merrill Lynch Mexico, S.A. de C.V., Casa de Bolsa Mexico Merrill Lynch S.A. Sociedad de Bolsa Argentina Banco Merrill Lynch S.A. Brazil Merrill Lynch S.A. Luxembourg Merrill Lynch Europe Ltd. Cayman Islands, British West Indies Merrill Lynch France S.A. France Merrill Lynch Finance S.A. France Merrill Lynch Capital Markets (France) S.A. France Merrill Lynch, Pierce, Fenner & Smith SAF France Merrill Lynch (Asia Pacific) Limited Hong Kong Merrill Lynch Far East Limited Hong Kong Merrill Lynch Japan Securities Co., Ltd. Japan Merrill Lynch Japan Finance Co., Ltd. Japan Herzog, Heine, Geduld, LLC Delaware
- ---------- 7 This corporation has more than 45 direct or indirect subsidiaries operating in the United States and serving as either general partners or associate general partners of limited partnerships. 8 Held through an intermediate subsidiary. 9 Partially owned by another indirect subsidiary of ML & Co. 10 Held through intermediate subsidiaries. 11 Partially owned by another indirect subsidiary of ML & Co.