NEW YORK (AP) Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation, will step down from his post once a successor is appointed, the White House said Monday.

Gruenbergs announced departure comes after damning report about the agencys toxic workplace culture was released earlier this month and political pressure from the top Democrat on the Senate Banking Committee, who called for his resignation earlier in the day.

In a statement, the White House said that President Joe Biden will name a replacement for Gruenberg soon and called for the Senate to quickly confirm the persons nomination.

Prior to the announcement, Sen. Sherrod Brown (D-Ohio) called for President Joe Biden to replace Gruenberg, saying the agency is broken and there must be fundamental changes at the FDIC.

Last week, Gruenberg was unable to convince Congress in testimony that he would be able to turn the agency around despite the report saying Gruenberg himself was often the source of the problems.

After chairing last weeks hearing, reviewing the independent report, and receiving further outreach from FDIC employees to the Banking and Housing Committee, I am left with one conclusion: there must be fundamental changes at the FDIC, said Brown, chairman of the Senate Banking Committee.