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Asset Management

State Street’s fourth quarter bolstered by new business

State Street ended 2021 with $43.68tn in assets under custody

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

Despite a strong quarter, the company missed analyst profit expectations. Shares in State Street fell 7.1% on 19 January.

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