Schools Chancellor David Banks Announces Retirement Amid FBI Probes
Schools Chancellor David Banks is retiring from his post as head of the city’s public school system at the end of the year — the latest high-profile resignation to rock an Adams administration besieged by turmoil in recent weeks.
Background
Banks, who was appointed in early 2022, announced he is ending his 40-year career in New York City education in a Tuesday afternoon statement. He had been the schools chancellor since the start of the Adams administration in 2022.
Reason for Retirement
Banks believes the end of the current calendar year is the appropriate time to step aside. In a letter to Mayor Eric Adams obtained by Pix-11 reporter Dan Mannarino and posted on X (formerly Twitter), the chancellor said he had discussed possible retirement with the mayor earlier this year.
Reaction from Mayor Eric Adams
Adams lauded Banks’ nearly three-year tenure as DOE chancellor, crediting him with shepherding the public school system out of the COVID-19 pandemic and increasing students reading and math scores, and implementing new reading and math curriculums.
FBI Probes and Resignations
The retirement announcement comes amid a series of FBI probes into several high-ranking city officials close to Mayor Eric Adams. Banks, along with his partner, First Deputy Mayor Sheena Wright, both had their phones seized by federal agents on Sept. 4 as part of the investigations.
Chancellor Banks was hardly the only Adams admin official to be swept up in recent federal law enforcement actions. On Sept. 4, the feds also executed a search warrant at the home of Banks’ brother, Deputy Mayor for Public Safety Phil Banks. Investigators are reportedly also eyeing a third Banks brother, Terence Banks, over some of the clients of his consulting firm the Pearl Alliance who have won city contracts since 2022.
Chancellor’s Statement
Banks, during a press conference earlier this month marking the start of the school year, said his attorney assured him that he is “not a target” of the investigation. He also insisted he had done nothing wrong.
Conclusion
Banks’ departure comes amid several high-profile resignations at City Hall in recent weeks, including that of former Police Commissioner Edward Caban, Chief Counsel Lisa Zornberg and, just Monday, Health Commissioner Dr. Ashwin Vasan. The exact reasons for the chancellor’s retirement remain unclear, but it is likely that the ongoing FBI probes played a significant role in his decision.
FAQs
Q: Why is Schools Chancellor David Banks retiring?
A: Banks has announced his retirement effective the end of the year, citing the end of the current calendar year as the appropriate time to step aside.
Q: What are the reasons for his retirement?
A: The exact reasons for Banks’ retirement remain unclear, but it is likely that the ongoing FBI probes into several high-ranking city officials close to Mayor Eric Adams played a significant role in his decision.
Q: What did Mayor Eric Adams say about Banks’ retirement?
A: Adams lauded Banks’ nearly three-year tenure as DOE chancellor, crediting him with shepherding the public school system out of the COVID-19 pandemic and increasing students reading and math scores, and implementing new reading and math curriculums.
Q: Will there be a replacement for Banks?
A: It is unclear at this time whether a replacement for Banks has been identified or appointed. The search for a new schools chancellor will likely be a top priority for the Adams administration in the coming weeks and months.
