More fund managers than ever are worried about overpriced equities
The number of investors saying equity markets are overvalued has hit a new high, according to the latest fund manager survey from Bank of America Merrill Lynch. Almost half the respondents said they thought stocks were too expensive. (FN)

Deutsche Bank names new US boss
The German bank has appointed Tom Patrick as CEO of its Americas business, replacing Bill Woodley. Patrick will continue as co-head of US corporate and investment banking and global head of equities. (WSJ)