Jill Abramson’s memo about the Times' new business editor, Dean Murphy

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Dean Murphy, Larry Ingrassia. ()
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Here's New York Times executive editor Jill Abramson's memo to staff announcing that Dean Murphy has been named Business Day editor.

Murphy replaces Larry Ingrassia, who will "take on a larger role at the paper," according to Abramson. Her note did not specify what that role would be, but the rumor circulating this past year is that he's headed to a post in London.

More below:

Colleagues,

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I am pleased to announce that Dean Murphy will be the next editor of Business Day. Dean is one of our most accomplished editors, a staunch advocate for reporters and a fine writer himself. He has a wonderful eye for stories, from news to enterprise. His years of reporting from abroad and from both coasts as well as his role as deputy national editor brought heart and breadth to our already superb business report.

This year in Bizday Dean edited some of our most groundbreaking work, stories that reflect the ambition and imagination of Bizday's reporting team --- David Barboza's stories about the hidden wealth accumulated by the family of Wen Jiabao, the iEconomy series, and Degrees of Debt.

Dean came to The Times after working as a foreign correspondent for The Los Angeles Times, with postings in Warsaw and Johannesburg. After joining The New York Times in 2000, he covered Hillary Clinton's Senate campaign and Michael Bloomberg's "long-shot" run for mayor. As San Francisco correspondent, he covered the successful --- and colorful --- campaign of Arnold Schwarzenegger. Dean became deputy national editor in 2005, and moved to the business section in 2010, as a deputy.

Larry Ingrassia will take on a larger role at the paper, the details of which will be announced in the new year. But this is a good moment to stop and applaud a great business editor, who led his staff to three Pulitzer Prizes, and many other awards. Larry led the coverage of the country's economic collapse, pushed the kind of accountablity journalism that has become a hallmark of The Times, and led a digital transition exemplified by the creation of Dealbook and the Bits blog. And he had great partners, including Winnie O'Kelley, one of our finest editors, and, of course, Dean.

Jill