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State Street Corp. said profit jumped in the fourth quarter, as market gains and new client wins brought in more fees for both its asset-servicing business and its investment-management arm.

Net income rose 30% to $697 million, or $1.78 a share, from $537 million, or $1.39, in the same period a year earlier. Analysts polled by S&P Global Market Intelligence had expected per-share profit of $1.86.