The current merger wave will not force J.P. Morgan & Co. off its independent course, chairman and chief executive officer Douglas A. Warner 3d said Wednesday.

Speaking at his annual shareholders meeting, Mr. Warner said Citicorp and Travelers Group, with their $70 billion merger agreement announced Monday, are taking "the polar opposite" of Morgan's approach.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.