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A top lieutenant at Steven A. Cohen's SAC Capital Advisors will leave the hedge fund in the new year as the once $15 billion firm converts to a family office, according to a memo sent to employees and seen by Reuters. Sol Kumin, the firms' chief operating officer, will leave SAC in January, the memo from Cohen said. "We are now moving from a firm which manages external capital to a 'family office' that will manage my capital and employee capital only," Cohen wrote.