Institutional

Federal Reserve Chair Janet Yellen has pointed again to a possible December interest rate hike, but reiterated interest rates would rise only slowly from then on to nurture the U.S. economic recovery.

Global investment management behemoth BlackRock has agreed to buy Bank of America’s $87 billion cash management business.

Irish investment manager Davy has named former UBS executive Alan Werlau to the post of senior investment strategist in its private client division.

Deutsche Bank's new CEO John Cryan has warned investors to expect at least two tough years of dividend cuts, pay restraint and thousands of job cuts as he implements sweeping strategic and cultural change at the German bank.

Commonfund has appointed former CalPERS CIO Mark Anson as its chief investment officer. 

Trading and research specialist Macro Risk Advisors will host its fourth annual charity trading day on October 29, in which the company will donate all net commissions from option, stock and ETF trades to selected charities.

Global trading exchange network Intercontinental Exchange has entered into an agreement to acquire Interactive Data Corporation from Silver Lake Partners and Warburg Pincus. 

In the latest sign that regulatory pressures and higher capital requirements are chasing financial institutions out of the market-making business, Credit Suisse has officially exited the U.K. primary bond dealer business.

The ECB is considering new stimulus measures that could be unveiled as soon as December and is prepared to cut its deposit rate deeper into negative territory if needed to fight falling prices, according to Mario Draghi.

The foreign-exchange unit of Deutsche Bank erroneously transferred approximately $6 billion to an unnamed U.S.-based hedge fund client last June in a fat-finger error, the bank disclosed today.