Two days after being convicted of corruption, Mayor Vincent "Buddy" Cianci Jr. announced Wednesday he will not seek re-election to a fourth straight term in November.

"It's time for me to move on," he said at City Hall.

The 61-year-old Cianci made his decision even as he held out hope that a federal judge would reverse his racketeering conspiracy conviction.

Cianci was found guilty of turning City Hall into a den of thieves even as his presided over Providence's revitalization over the past 12 years.

Prosecutors said he and his cohorts had turned Providence into a "city for sale," where jobs, contracts and tax breaks could be had for payoffs.