Former New York Times deputy managing editor Larry Ingrassia will be an associate editor at the Los Angeles Times in charge of new ventures, the paper's leadership announced Wednesday in a staff memo.

In the memo, included below in its entirety, Los Angeles Times publisher Austin Beutner, Editor-in-Chief Davan Maharaj and assistant managing editor Marc Duvoisin explain Ingrassia will be responsible for helping the paper "attract digital readership and convert it into revenue."

Here at the L.A. Times, Larry will focus on developing editorial products with potential to unlock the revenue in our online audience. These could include more special events, email newsletters and products for targeted audiences.

He will work closely with Davan and Marc and other members of the masthead to shape our strategy in print and online. He will also help with high-level newsroom recruiting, organizational planning and other areas where his experience will be invaluable.

Ingrassia announced he was leaving the New York Times in September, around the same time Executive Editor Dean Baquet announced a restructuring of the paper's executive ranks.

Before his stint as deputy managing editor, Ingrassia had other jobs at The Times, including assistant managing editor for new initiatives, and senior business editor.

Here's the memo:

Colleagues:

We are delighted to announce that Larry Ingrassia is joining the Los Angeles Times as associate editor, focusing on new ventures.

The search for ways to attract digital readership and convert it into revenue is an urgent task in all news organizations today. Larry is superbly qualified to represent the newsroom in this area. He is one of the most accomplished business journalists in the country and a journalism innovator with an enviable track record.

At the New York Times, and before that at the Wall Street Journal, he oversaw journalism that won numerous Pulitzer Prizes, Polk Awards, Gerald Loeb Awards and other honors. As business editor of the New York Times, he also helped to develop highly successful digital products such as DealBook and the technology blog Bits.

Here at the L.A. Times, Larry will focus on developing editorial products with potential to unlock the revenue in our online audience. These could include more special events, email newsletters and products for targeted audiences.

He will work closely with Davan and Marc and other members of the masthead to shape our strategy in print and online. He will also help with high-level newsroom recruiting, organizational planning and other areas where his experience will be invaluable.

He will report to Davan.

At the New York Times, Larry was business editor from 2004 to 2012 and oversaw a staff of about 110 reporters and editors. Coverage he directed won five Pulitzers – one each for national reporting, international reporting and commentary, and two in explanatory reporting. His reporters won numerous other journalism prizes, including Polk and Loeb awards.

In 2009, the judges of the Loeb Awards honored Larry with the Minard Editor Award for excellence in business and economic journalism.

In 2013, Larry was named assistant managing editor for new initiatives at the New York Times. He was promoted later that year to deputy managing editor. In both roles, he was the newsroom’s senior editor working with the business side. Among other things, he oversaw the integration of the newsrooms of the International Herald Tribune and the New York Times to form the International New York Times.

Previously, Larry had a 25-year career at the Wall Street Journal, where he held a variety of positions, including assistant managing editor and Money & Investing editor. He also served as a bureau chief in London and Boston, after working as a reporter in Chicago, Minneapolis and London.

Please join us in welcoming him to Los Angeles.

-- Austin, Davan and Marc