Security Firm Linked to Top Adams Aide Won Millions in N.Y.C. Business

Before Philip B. Banks III was named deputy mayor for public safety for New York City, the security company he once owned rarely did business with the city.

But two years after Mayor Eric Adams appointed Mr. Banks to the high-ranking post in his administration, the company Mr. Banks said he had sold years earlier began receiving city business worth millions of dollars, according to records reviewed by The New York Times.

The firm, City Safe Partners, received a $154 million contract from the New York City Housing Authority in January 2024 to provide “emergency fire watch services” in Brooklyn, Manhattan and the Bronx, records show. Sheena Wright, the first deputy mayor in the Adams administration and the fiancée of Mr. Banks’s brother, the schools chancellor, sits on the housing authority’s board and voted to approve the emergency contract, records show.

Mr. Banks’s business dealings have been under scrutiny at least since his phones were seized this month by federal agents investigating a possible bribery scheme involving city contracts. The phones of Mr. Banks’s brothers — David Banks, the schools chancellor, and Terence Banks, a consultant with clients who received city contracts — were also taken as part of the corruption inquiry.

The investigation involving Philip Banks and his brothers is one of at least four separate federal inquiries focused on members of the Adams administration — inquiries that have rocked City Hall and raised questions about Mr. Adams’s political future. It was not clear whether City Safe Partners was a focus of any of the investigations.

The company’s fortunes, however, seemed to have run in parallel with the political fortunes of Mr. Banks and another top Adams aide who was once briefly involved with the firm.