Schools Chancellor David Banks will retire from his position at the end of the year, he said in a statement Tuesday.

Banks’ retirement will take effect on Dec. 31, he said.

"After nearly 40 years of dedicated service to New York City's public schools, I have made the decision to retire at the end of this year,” the chancellor wrote, adding that he wanted to “thank Mayor Adams for giving me the opportunity to serve as chancellor.”

In his own statement, Mayor Eric Adams said he was “immensely grateful and proud of the work accomplished in New York City Public Schools under Chancellor David Banks.”

In a statement, Michael Mulgrew, president of the United Federation of Teachers union, called Banks "an educator who sought to improve public education for all students."

“Now more than ever, we need to focus on doing the work that our students, educators, and public schools need," Mulgrew said. "We thank him for his partnership, passion, and collaboration and wish him well."

Adams tapped Banks for the position in December 2021. Banks' announcement comes less than a month after his cellphones were seized by the Federal Bureau of Investigation.

The schools chancellor has said his lawyers have told him he is not a target in the investigation.

Banks is one of several members of the Adams administration to resign or announce plans to step down over the last few weeks.

On Sept. 12, NYPD Commissioner Edward Caban announced he would resign from his post. He officially stepped down a day later.

Caban’s resignation came a week after federal agents executed warrants at his home, as well as the homes of Deputy Mayor for Public Safety Phil Banks, who is the school’s chancellor’s brother; First Deputy Mayor Sheena Wright, who is engaged to the schools chancellor and shares a home with him; and Adams senior adviser Timothy Pearson.

City Hall Chief Counsel Lisa Zornberg, meanwhile, resigned days later on a Saturday night, saying in a letter obtained by NY1, in part, that she could “no longer effectively serve in my position.”

And on Monday, the city’s health commissioner, Dr. Ashwin Vasan, said he intended to step down in early January, citing plans to spend more time with his family.

Editor’s Note: A previous version of this story incorrectly characterized the FBI’s seizure from Schools Chancellor David Banks.