Toronto's top bureaucrat is leaving his post and heading to Ottawa.

City Manager Peter Wallace departs at the end of March to become secretary of the federal Treasury Board.

"It has been a privilege to serve council and the residents of our great city," he said in a news release.

Wallace, who moved from Queen's Park to city hall in 2015, joins a string of high-profile departures including, but not limited to, Jennifer Keesmaat, the ex-chief planner, Andy Byford, who was CEO of the TTC, and Rob Rossini, the former chief financial officer.

The city manager just helped council pass its 2018 budget. During its creation, Wallace warned councillors for a second-straight year that they can't keep relying on huge windfalls from the Municipal Land Transfer Tax to balance the city's books.

Wallace is recommending that Giuliana Carbone, currently a deputy city manager, replace him.

Mayor John Tory praised Wallace's "absolute professionalism" in a statement.

"I enjoyed a close working relationship with Peter and appreciated his strategic and thoughtful advice," Tory said.