Thomas W. Bunn, the head of high-yield debt origination for Bank of America Corp., waves his hand toward a window overlooking New York's Central Park.

"People love to think the world revolves around this city," he says. "And there are a lot of clients and financial sponsors here. But we aren't dependent on one industry. So if the financial sponsor business decides to shut down, we're not in trouble."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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