New York City’s Deputy Mayor for Public Safety Philip C. Banks has resigned, bowing to weeks of mounting pressure amid federal investigations surrounding both him and his close friend, Mayor Eric Adams.
The resignation, submitted on Sunday night, marks the latest high-profile exit from Adams’ administration, sparking further speculation about the mayor’s own future following his unprecedented federal indictment.
Over recent weeks, Adams has been working to convince embattled officials within his administration to step down, with New York Governor Kathy Hochul applying additional pressure for a leadership overhaul. However, sources said that Adams’ long-standing friendship with Banks made the decision particularly difficult.
City Hall has not yet responded to requests for comment on the resignation. Federal agents raided Banks’ Queens residence on September 4, seizing his electronic devices. Since then, calls for his resignation have intensified, including from The Post’s editorial board. Though Banks initially resisted stepping down, his stance eventually crumbled under the weight of ongoing scrutiny.
Banks’ departure follows the recent resignation of Tim Pearson, a retired NYPD inspector and close ally of both Banks and Adams, who also stepped down amid federal investigation. This turmoil comes as Adams himself faces five criminal charges as part of a federal indictment.
The federal probe into Banks has focused on allegations that he steered city contracts toward companies linked to his younger brother Terence Banks, whose consulting firm secured millions of dollars in deals with the city. Records show that firms associated with Terence Banks included Saferwatch, Derive Technologies, SVAM International, and Mercato, a grocery delivery app.
Banks’ career within the NYPD also ended on a controversial note. He abruptly resigned as chief of department in 2014 before being promoted to first deputy, later revealing that his departure was tied to a sweeping bribery scandal involving Jona Rechnitz and Jeremy Reichberg, who provided lavish gifts to officers in exchange for favors. Banks was named as an unindicted co-conspirator, with federal investigators uncovering $300,000 in unexplained transactions in his accounts.
Despite his troubled history, Adams appointed Banks as deputy mayor for public safety in 2022—a role that had been vacant for decades. The appointment raised concerns, especially after City Hall failed to immediately request a waiver allowing Banks to receive his $252,000 salary while collecting a six-figure pension from his NYPD career. Adams defended the hiring, stating that he was choosing the best people for the job.
Banks’ tenure was further clouded by tense interactions with the press and questions surrounding his rent-a-cop company’s MTA contract. His ties to Pearson, who faced his own controversies, only added to the scrutiny.
