A one-piece cutting tool has a shank portion with a mounting end and a cutting end. The cutting end has a body portion and a substantially hemispherical portion. The cutting end further comprises a plurality of flutes, each flute helically extending adjacent to one another about the cutting end along a length from the body portion to the hemispherical portion. Each flute has a cutting edge divided into a first cutting edge section and a second cutting edge section, the first cutting edge section extending along the body portion and being substantially straight-edged or serrated, and the second cutting edge section extending along the hemispherical portion and being serrated along at least a part of the hemispherical portion. A cutting tool assembly is also provided.