Exhibit 21.1
JPMorgan Chase & Co.

List of subsidiaries

JPMorgan Chase had the following subsidiaries at December 31, 2004:

		Percentage
		of voting
		securities
		owned by
	Organized under the	immediate
Name	laws of	parent
BOI Leasing Corporation	Indiana		100	%
Banc One Building Management Corporation	Wisconsin		100
Banc One Capital Holdings Corporation	Ohio		100
BOCP Holdings Corporation	Ohio		100
BOCF, LLC	Delaware		100
BOCNY, LLC	Delaware		100
BOME Investors, Inc.	Delaware		100
Banc One Capital Partners BC, LLC	Ohio		80
Banc One Capital BIDCO-1998, LLC	Louisiana		100
Banc One Capital Partners Holdings, Ltd.	Ohio		100
Banc One Capital Partners II, LLC	Delaware		100
Banc One Capital Partners, LLC	Delaware		100
Banc One Capital Partners IV, Ltd.	Ohio		100
Banc One Capital Partners V, Ltd.	Ohio		100
Banc One Capital Partners XI, Ltd.	Ohio		100
Banc One Stonehenge Capital Fund Wisconsin, LLC	Delaware		100
Tax Credit Acquisitions II, LLC	Ohio		100
Tax Credit Acquisitions, LLC	Ohio		100
Banc One Securities Corporation	Ohio		100
Banc One Financial LLC	Delaware		100
JPMorgan Capital Corporation	Delaware		100
Banc One Capital Management LLC	Delaware		100
Bank One Investment Corporation	Delaware		100
OEP Holding Corporation	Delaware		100
Banc One Equity Capital Fund II, L.L.C.	Delaware		100
Banc One Equity Capital SBIC Fund II, L.L.C.	Delaware		100
OEP Management LLC	Delaware		93.75
One Equity Partners LLC	Delaware		100
OEP Star Limited LLC	Delaware		100
First Chicago Capital Corporation	Delaware		100
One Mortgage Partners Corp.	Vermont		100
First Chicago Leasing Corporation	Delaware		100
NLTC Fund Holdings I, Inc.	Delaware		100
OX FCL Two, Inc.	Delaware		100
Skyhigh Corporation	Delaware		100
Oak Street FSC, Ltd.	Bermuda		100
FCL Ship Five, Inc.	Delaware		100
Cooper Project, L.L.C.	Delaware		100
FCL Ship Fourteen, Inc.	Delaware		100
FM Holdings I, Inc.	Delaware		100
FM Holdings II, Inc.	Delaware		100
First Chicago Lease Holdings, Inc.	Delaware		100
Palo Verde Leasing Corporation	Delaware		100
First Chicago Lease Investments, Inc.	Delaware		100
Fountain FSC, Ltd.	Belgium		100
GHML Holdings I, Inc.	Delaware		100
GHML Holdings II, Inc.	Delaware		100
GTC Fund III Holdings, Inc.	Delaware		100
GTC Fund IV Holdings, Inc.	Delaware		100
GTC Fund V Holdings, Inc.	Delaware		100

148

		Percentage
		of voting
		securities
		owned by
	Organized under the	immediate
Name	laws of	parent
Banc One Financial Services, Inc.	Indiana		100
Banc One Insurance Holdings, Inc.	Arizona		100
Banc One Insurance Agency, Inc.	Wisconsin		100
Banc One Insurance Company	Vermont		100
Banc One Life Reinsurance Company	Arizona		100
Federal Kemper Life Assurance Company	Illinois		100
Zurich Life Insurance Company of America	Illinois		100
Zurich Life Insurance Company of New York	New York		100
One Life Direct, Inc.	Illinois		100
Banc One Kentucky Insurance Company	Kentucky		100
Banc One Management Corporation	Ohio		100
Banc One Deferred Benefits Corporation	Ohio		100
Banc One Neighborhood Development Corporation	Ohio		100
Bank One Trust Company, National Association	United States		100
Bridge Acquisition Holdings, Inc.	Delaware		100
CCC Holding, Inc.	Delaware		100
Chase Commercial Corporation	Delaware		100
CMRCC, Inc.	New York		100
Chase Funding, Inc.	New York		100
Chase Home Mortgage Corporation of the Southeast	Florida		100
Chase Investment Services Corp.	Delaware		100
Chase Lincoln First Commercial Corporation	Delaware		100
Chase Manhattan Realty Leasing Corporation	New York		100
PV2-APS 150 Corporation	Delaware		100
PV2-PNM December 35 Corporation	Delaware		100
Palo Verde 1-PNM August 50 Corporation	Delaware		100
Palo Verde 1-PNM December 75 Corporation	Delaware		100
Chase Shareholder Services of California, Inc.	Delaware		100
Chatham Ventures, Inc.	New York		100
J.P. Morgan Partners (BHCA), L.P.	California		100
J.P. Morgan Partners (SBIC), LLC	California		100
Chemical Equity Incorporated	New York		100
Chemical Investments, Inc.	Delaware		100
Clintstone Properties Inc.	New York		100
Hambrecht & Quist Group	Delaware		100
Hambrecht & Quist California	California		100
Hambrecht & Quist Guaranty Finance, LLC	California		87.5
Hatherley Insurance Ltd.	Bermuda		100
J.P. Morgan Capital Financing Limited	England		100
Aldermanbury Investments Limited	England		100
Robert Fleming Holdings Limited	England		100
Copthall Overseas Limited	England		100
Robert Fleming (Luxembourg) (Joint Ventures) Sarl	Luxembourg		100
Robert Fleming Investment Trust Limited	England		100
J.P. Morgan Chase International Financing Limited	England		100
J.P. Morgan Chase Community Development Corporation	Delaware		100
J.P. Morgan Chase National Corporate Services, Inc.	New York		100
J.P. Morgan Corporate Services Limited	England		100
Robert Fleming Holdings Inc.	Delaware		100
J.P. Morgan Equity Holdings, Inc.	Delaware		100
CBD Holdings Ltd.	Delaware		100
Chase Life & Annuity Co.	Ohio		100
Chase Life & Annuity Company of New York	New York		100
Great Lakes Insurance Company	Delaware		100
CMC Holding Delaware Inc.	Delaware		100
A.S. Holding Corporation	Delaware		100
Chase Manhattan Bank USA, National Association	United States		100
Card Acquisition Funding LLC	Delaware		100
Chase BankCard Services, Inc.	Delaware		100
Chase Data Services Corporation	Delaware		100

149

		Percentage
		of voting
		securities
		owned by
	Organized under the	immediate
Name	laws of	parent
Chase Insurance Agency, Inc.	Delaware		100
Cross Country Insurance Company	Vermont		100
First USA Services, Inc.	Delaware		100
First USA Management Services, Inc.	Delaware		100
J.P. Morgan Investor Services Co.	Delaware		100
Chase Re Limited	Bermuda		100
J.P. Morgan Personal Wealth Management, Inc.	Delaware		100
J.P. Morgan Trust Company of Delaware	Delaware		100
J.P. Morgan Trust Company, National Association	United States		100
Texas Commerce Shareholders Company	Texas		100
J.P. Morgan Fleming Asset Management Holdings Inc.	Delaware		100
J.P. Morgan Fleming Asset Management (Asia) Inc.	Delaware		100
J.P. Morgan Fleming Asset Management (Japan) Limited	Japan		100
J.P. Morgan Fleming Taiwan Limited	Taiwan		100
JF Asset Management International Limited	British Virgin Islands		100
JF Asset Management Limited	Hong Kong		100
JF Funds Limited	Hong Kong		100
JF Asset Management (Taiwan) Limited	Taiwan		99.9
J.P. Morgan Fleming Asset Management (Canada) Inc.	Canada		100
J.P. Morgan Fleming Asset Management International Limited	England		100
Robert Fleming Asset Management Limited	England		100
Robert Fleming (Luxembourg) Sarl	Luxembourg		100
J.P. Morgan Fleming Asset Management (Europe) S.a.r.l	Luxembourg		100
J.P. Morgan Fleming Asset Management France SAS	France		100
J.P. Morgan Fleming Societa di Gestione del Risparmio S.p.A.	Italy		100
Chase Fleming Luxembourg Holding S.A.	Luxembourg		100
Fleming Flagship Advisory Company Sarl	Luxembourg		100
JPMorgan Fleming srl	Italy		100
J.P. Morgan Fleming Asset Management (UK) Limited	England		100
J.P. Morgan Fleming Life Limited	England		100
J.P. Morgan Fleming Marketing Limited	England		100
Save & Prosper Insurance Limited	England		100
Save & Prosper Pensions Limited	England		100
Save & Prosper International Insurance Limited	Bermuda		100
J.P. Morgan Investment Management Limited	England		100
J.P. Morgan Fleming Asset Management (London) Limited	England		100
J.P. Morgan Investment Management Inc.	Delaware		100
J.P. Morgan Funding Corp.	England		100
J.P. Morgan Futures Inc.	Delaware		100
J.P. Morgan GT Corporation	Delaware		100
J.P. Morgan International Holdings Corp.	Delaware		100
J.P. Morgan Trust Company (Bahamas) Limited	Bahamas		100
J.P. Morgan Trust Company (Cayman) Limited	Cayman Islands, BWI		100
JPMAC Holdings Inc.	Delaware		100
J.P. Morgan Invest Inc.	Delaware		100
J.P. Morgan Invest, LLC	Delaware		100
J.P. Morgan Retirement Plan Services LLC	Delaware		100
J.P. Morgan Private Investments Inc.	Delaware		100
J.P. Morgan Services Inc.	Delaware		100
J.P. Morgan Ventures Corporation	Delaware		100
DNT Asset Trust	Delaware		100
Ventures Business Trust	Delaware		100
JPMP Capital Corp.	New York		100
J.P. Morgan Partners, LLC	Delaware		100
JPMP Capital, LLC	Delaware		100
LabMorgan International Ltd.	Cayman Islands, BWI		100
J.P. Morgan Capital Bahamas Limited	Bahamas		100
J.P. Morgan Capital, L.P.	Delaware		100
J.P. Morgan SBIC Holdings LLC	Delaware		100

150

		Percentage
		of voting
		securities
		owned by
	Organized under the	immediate
Name	laws of	parent
JPMCC Luxembourg Corporation	Luxembourg		100
J.P. Morgan Capital Luxembourg S.a.r.l.	Luxembourg		100
JPMCC Belgium S.P.R.L.	Belgium		100
JPMCC Belgium (SCA)	Belgium		100
J.P. Morgan Partnership Capital Corporation	Delaware		100
J.P. Morgan Partnership Investment Corporation	Delaware		100
Peabody Real Estate Partnership Corporation	Delaware		100
JPMorgan Chase Bank, Dearborn	Michigan		100
JPMorgan Chase Bank, National Association	United States		100
Anexsys Holdings, Inc.	Delaware		100
Anexsys, LLC	Illinois		64	(a)
BOILL IHC, Inc.	Nevada		100
BONA Capital I, LLC	Delaware		100
BONA Capital II, LLC	Delaware		100
BOTAC, Inc.	Nevada		100
Banc One Acceptance Corporation	Ohio		100
Banc One Arizona Leasing Corporation	Arizona		100
Banc One Building Corporation	Illinois		100
Banc One Community Development Corporation	Delaware		100
Banc One Equipment Finance, Inc.	Indiana		100
Banc One Investment Advisors Corporation	Ohio		100
Security Capital Research & Management Incorporated	Delaware		100
Banc One Kentucky Vehicle Leasing Company	Kentucky		100
Banc One POS Services Corporation	Ohio		100
Banc One Payment Services, LLC	Delaware		74.83
BOPS Holdings, LLC	Delaware		99
Paymentech, L.P.	Delaware		100
Paymentech Salem Services, LLC	Delaware		100
FDC Offer Corporation	Delaware		54.8
Paymentech, Inc.	Delaware		100
Paymentech Management Resources, Inc.	Delaware		100
Paymentech Employee Resources, LLC	Delaware		100
Banc One Private Mortgage Insurance Company, Inc.	Maine		100
Banc One Real Estate Investment Corp.	Delaware		100
Bank One Auto Securitization LLC	Delaware		100
Bank One Equity Investors — BIDCO, Inc.	Louisiana		100
Bank One International Corporation	United States		100
CSL Leasing Inc.	Delaware		100
Cedar Hill International Corp.	Delaware		100
Chase Access Services Corporation	Delaware		100
Chase Bankruptcy Information Systems, Inc.	Delaware		100
Chase Community Development Corporation	Delaware		100
Chase Education Holdings, Inc.	Delaware		100
Chase Equipment Leasing, Inc.	Ohio		100
Chase Funding Corporation	Delaware		100
Chase Manhattan Automotive Finance Corporation	Delaware		100
Chase Manhattan Mortgage Corporation	New Jersey		100
Chase Ventures Holdings, Inc.	New Jersey		100
The Home Loan Group, LP	California		50
Chase Merchant Ventures, Inc.	Delaware		100
Chase Mortgage Holdings, Inc.	Delaware		100
Chase Preferred Capital Corporation	Delaware		100
CPCC Delaware Statutory Trust	Delaware		100
CPCC Massachusetts Business Trust	Massachusetts		100
CPCC Texas Limited Partnership	Texas		100
Chem Network Processing Services, Inc.	New Jersey		100
Colson Services Corp.	Delaware		100
FC Energy Finance I, Inc.	Delaware		100
FC Energy Finance II, Inc.	Delaware		100

151

		Percentage
		of voting
		securities
		owned by
	Organized under the	immediate
Name	laws of	parent
FNBC Leasing Corporation	Delaware		100
Genesis Holding Corporation	Delaware		100
Liberty Payment Services, Inc.	Kentucky		100
Manufacturers Hanover Leasing International Corp.	Delaware		100
Chase Leasing of Texas, Inc.	Delaware		100
Naugatuck Holding Corp.	Delaware		100
Overseas Realty Corp.	New York		100
South Cutler Corporation	Delaware		100
Harvest Opportunity Holdings Corp.	New York		100
Independence Park Building Inc.	Delaware		100
J.P. Morgan Alternative Asset Management, Inc.	Delaware		100
J.P. Morgan Chase Custody Services, Inc.	Delaware		100
J.P. Morgan Electronic Financial Services, Inc.	New York		100
J.P. Morgan FCS Corporation	Texas		100
J.P. Morgan International Inc.	United States		100
Bank One International Holdings Corporation	United States		100
Bank One Europe Limited	England		100
J.P. Morgan International Finance Limited	United States		100
Norchem Holdings e Negocios S.A.	Brazil		78.24
Robert Fleming Equity (Bermuda) Limited	Bermuda		100
Willard Holdings, Inc.	Delaware		100
Woodward Holdings, Inc.	Delaware		100
BOL (C) II, Inc.	Delaware		100
BOL Canada II Sub, Inc.	Delaware		100
BOL Canada II Trust	Delaware		100
BO Leasing II ULC	Canada		100
BOL Canada I, Inc.	Delaware		100
BOL Canada I Sub, Inc.	Delaware		100
BO Leasing I ULC	Canada		100
BOL Canada III, Inc.	Delaware		100
BOL Canada III Sub, Inc.	Delaware		100
BO Leasing III ULC	Canada		100
Banco J.P. Morgan S.A.	Brazil		99.69	(b)
J.P. Morgan Corretora de Cambio e Valores Mobiliarios S.A.	Brazil		100
J.P. Morgan S.A. Distribuidora de Titulos e Valores Mobiliarios	Brazil		100
Dearborn Merchant Services, Inc.	Canada		100
Paymentech Canada	Canada		100
J.P. Morgan Bank International LLC	Russian Federation		100
J.P. Morgan Beteiligungs-und Verwaltungsgesellschaft M6H	Germany		100
J.P. Morgan AG	Germany		100
J.P. Morgan Fonds Services GmbH	Germany		100
J.P. Morgan International Holdings Limited	Cayman Islands, BWI		100
J.P. Morgan India Securities Holdings Limited	Mauritius		100
J.P. Morgan Services India Private Limited	India		100
J.P. Morgan Indonesia Holdings (B.V.I.) Limited	British Virgin Islands		100
J.P. Morgan Securities (Taiwan) Limited	Taiwan		74.95	(c)
J.P. Morgan Securities Holdings (Bermuda) Limited	Bermuda		100
J.P. Morgan Securities Singapore Private Limited	Singapore		100
Jadeling Malaysia Holdings Limited	British Virgin Islands		100
NorChem Participacoes e Consultoria S.A.	Brazil		50
Bedford Holdings, Inc.	Delaware		100
Chase Manhattan Holdings Limitada	Brazil		99.99
Inversiones Y Asesorias Chase Manhattan Limitada	Chile		99.94
J.P. Morgan & Cie S.A.	France		100
J.P. Morgan (Suisse) SA	Switzerland		100
J.P. Morgan Bank (Ireland) plc	Republic of Ireland		100
J.P. Morgan Bank Luxembourg S.A.	Luxembourg		100
J.P. Morgan Bank, S.A.	Spain		100
J.P. Morgan Capital Holdings Limited	England		99.99
J.P. Morgan Chase (UK) Holdings Limited	England		100

152

		Percentage
		of voting
		securities
		owned by
	Organized under the	immediate
Name	laws of	parent
J.P. Morgan Chase International Holdings Limited	England		100
Crosby Sterling (Holdings) Limited	England		100
J.P. Morgan EU Holdings Limited	England		100
J.P. Morgan (SC) Limited	England		100
J.P. Morgan Equities Limited	South Africa		100
J.P. Morgan Europe Limited	England		100
J.P. Morgan Markets LLP	England		100
J.P. Morgan Securities Ltd.	England		100
Robert Fleming (Overseas) Number 2 Limited	England		100
J.P. Morgan plc	England		100
J.P. Morgan Trustee and Depositary	England		100
J.P. Morgan Luxembourg International S.a.r.l.	Luxembourg		99.9
J.P. Morgan Cayman Limited	Cayman Islands, BWI		100
J.P. Morgan Chase Bank Berhad	Malaysia		100
J.P. Morgan Chile Limitada	Chile		100
J.P. Morgan Funding South East Asia Private Limited	Singapore		100
J.P. Morgan Grupo Financiero S.A. De C.V.	Mexico		100
Banco J.P. Morgan S.A., Institucion de Banca Multiple, J.P. Morgan Grupo Financiro	Mexico		100
J.P. Morgan Holdings (Hong Kong) Limited	Hong Kong		100
Copthall Mauritius Investment Limited	Mauritius		100
J.P. Morgan Futures (Korea) Limited	South Korea		100
J.P. Morgan Securities (Far East) Limited	Hong Kong		100
J.P. Morgan Broking (Hong Kong) Limited	Hong Kong		100
J.P. Morgan International Derivatives Ltd.	Channel Islands		100
J.P. Morgan Investimentos e Financas Ltda.	Brazil		100
J.P. Morgan Malaysia Ltd.	Malaysia		100
J.P. Morgan Overseas Capital Corporation	Delaware		100
J.P. Morgan Australia Group Pty Limited	Australia		100
J.P. Morgan Operations Australia Limited	Australia		100
J.P. Morgan Administrative Services Australia Limited	Australia		100
J.P. Morgan Australia Limited	New South Wales		100
J.P. Morgan Financial Services New Zealand Limited	Australia		100
J.P. Morgan Institutional Services Australia Limited	Australia		100
J.P. Morgan Nominees Australia Limited	Australia		100
J.P. Morgan Portfolio Services Limited	Australia		100
J.P. Morgan Trust Australia Limited	Australia		100
JFOM Pty Limited	Australia		100
J.P. Morgan Markets Australia Pty Limited	Australia		100
J.P. Morgan Espana S.A.	Spain		100
J.P. Morgan Gestion, Sociedad Gestora de Instituciones de Inversion Colectiva, S.A.	Spain		100
J.P. Morgan Sociedad de Valores, S.A.	Spain		79	(d)
J.P. Morgan International Bank Limited	England		100
J.P. Morgan Securities Canada Inc.	Canada		100
J.P. Morgan Whitefriars Inc.	Delaware		100
J.P. Morgan Whitefriars (UK)	England		100
PT J.P. Morgan Securities Indonesia	Indonesia		42.75	(e)
J.P. Morgan Partners (CMB Reg K GP), Inc.	Delaware		100
J.P. Morgan Securities (C.I.) Limited	Channel Islands		100
J.P. Morgan (Jersey) Limited	Channel Islands		100
J.P. Morgan Securities Asia Private Limited	Singapore		100
J.P. Morgan Securities Holdings (Hong Kong) Limited	Hong Kong		100
J.P. Morgan Investment Holdings II (Mauritius) Limited	Mauritius		67
J.P. Morgan Securities (Asia Pacific) Limited	Hong Kong		100
J.P. Morgan Securities Holdings (Caymans) Limited	Cayman Islands, BWI		100
J.P. Morgan Securities India Private Limited	India		100
J.P. Morgan Securities South Africa (Proprietary) Limited	South Africa		100
J.P. Morgan Services Asia Holdings Limited	Mauritius		100
J.P. Morgan Services India Private Limited	India		100

153

		Percentage
		of voting
		securities
		owned by
	Organized under the	immediate
Name	laws of	parent
J.P. Morgan Services Japan Ltd.	Delaware		100
J.P. Morgan Trust Bank Ltd.	Japan		100
J.P. Morgan Trust Company (Jersey) Limited	Channel Islands		100
J.P. Morgan Leasing Inc.	New York		100
J.P. Morgan Mortgage Acquisition Corp	Delaware		100
J.P. Morgan Mortgage Capital Inc.	Delaware		100
J.P. Morgan Partners (23A SBIC Manager), Inc.	Delaware		100
J.P. Morgan Partners (23A SBIC), L.P.	Delaware		100
J.P. Morgan Property Exchange Inc.	Delaware		100
J.P. Morgan Treasury Technologies Corporation	Delaware		100
JPMorgan Securities Holdings LLC	Delaware		100
J.P. Morgan Institutional Investments Inc.	Delaware		100
J.P. Morgan Securities Inc.	Delaware		100
LabMorgan Corporation	Delaware		100
LabMorgan Investment Corporation	Delaware		100
MorServ, Inc.	Delaware		100
NBD Community Development Corporation	Michigan		100
Offshore Equities, Inc.	New York		100
One Group Dealer Services, Inc.	Delaware		100
One Group Administrative Services, Inc.	Delaware		100
One Mezzanine Capital Corporation	Delaware		100
Park Assurance Company	Vermont		100
Sterling Assurance Company	Vermont		100
Support Development Corporation	Delaware		100

(a)	Anexsys Holding of Missouri owns 36%.
(b)	Chase Manhattan Holdings Limitada owns 0.31%.
(c)	JF Securities Limited owns 10%, and Robert Fleming Investment Trust Limited owns 10%.
(d)	J.P. Morgan & Cie S.A. owns 19% and J.P. Morgan Securities Ltd. owns 2%.
(e)	J.P. Morgan Indonesia Holdings (B.V.I.) Limited owns 42.5%, and J.P. Morgan Securities Asia Private Limited owns 13.75%.

Note: Certain intermediary subsidiaries may be omitted in the ownership chain because the listed subsidiary holds significant assets, but the intermediary subsidiaries do not.

154