A Family Business

Steve Willis’ Bio

Harriette Brainerd Willis’ Bio

Swartz, the Chef

Swartz’ Bio

Zanzibar Independent

Corrections or additions?

This feature by Elaine Strauss was published in U.S. 1 Newspaper on

October 21, 1998. All rights reserved.

Recipe for Success on Nassau Street?

The New York Stock Exchange is skittish, and all over

the world, securities are losing value. The Nobel Prize committee

is not sure whether the income on its equities will enable it to

continue

offering prize money at today’s levels. Investment banker Steve Willis

remains calm. He is distancing himself from the financial markets

and, with his wife, Harriette Brainerd Willis, seeking financial

diversity

by owning restaurants in Princeton. Two of them.

Harriette’s, at 18 Witherspoon Street, on the site of the former

Quilty’s,

opened a month ago (U.S. 1, September 30). Zanzibar, one flight up

at 235 Nassau Street, the site formerly inhabited by Emerald

Coffeehouse,

opened just this week; its take-out branch at street level, the Fork

in the Road, has been open for business since October 7.

Coolly assessing his new enterprises as an investment, Willis has

this to say about restaurants: "From a financial standpoint the

return on assets that can be achieved with efficient operation is

comparable to other enterprises. Last month it was a rocky road in

the stock market, but Princeton restaurants were not affected. People

thought that investing in blue chips insulated them from downturns

in the market, but that’s not true. As for capital outlay, and return

on capital in the restaurant business, Harriette and I feel good about

that."

"Harriette and I wanted to start a business together," he

says. "We wanted to do something locally, and felt that the

community

could use more fine dining options. The Princeton market is strong

as a dining market. Everybody in town is doing well. We thought that

if we add something on the high end, something we could have fun at,

we could do it as a family business and it could be financially

successful.

Harriette grew up here. It’s important to give back to the

community."

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A Family Business

The couple’s personal impact is reflected in the names

of the restaurants. Harriette is a family name shared by Willis’ wife,

his mother-in-law, and his daughter. The name "Zanzibar" has

a more arcane origin. "It was one of those things," Willis

says. "We’ve been to many different places, but Zanzibar is one

of the places we never got to. We thought that if we can’t get to

Zanzibar, we’ll bring it to Princeton."

For the Willises, the investments imply a hands-on role. "We

expect

to be frequently on-site," Willis says. "Harriette plans to

spend lot of time here during the lunch period. For the first time

all four kids [ages 11, 10, 5, and 3] are in school. That frees her

up. I will be spending evenings at the restaurants," Willis

continues,

"helping them get running, and seeing that the level of service

and the quality of product is up to the highest standards

possible."

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Steve Willis’ Bio

Willis, 39, was born in Chicago and grew up in Weston, Massachusetts.

His father, a Boston-based senior executive, became CEO of Gillete’s

diversified industries divisions, which includes all the non-razor,

non-personal products. When Willis was 11, the family moved to

Frankfurt,

where his father faced the task of integrating Braun, the German

electronics

manufacturer, into Gillette. "That’s where my experience outside

the country started," he says. "I lived there for two years.

The family went to the Middle East, Africa, and Eastern Europe at

a time when the wall was very much up."

"My father was a Rhodes scholar, and he used living in Frankfurt

as an educational springboard for the family," says Willis.

"He

wanted us to see how other people lived."

After returning to Weston for high school, Willis majored in political

science at Middlebury College, where he met Harriette, then entered

Chase Manhattan’s training program. For two years he traveled around

the developing world, writing reports. "I spent a month in Lagos,

Nigeria, and it was an eye-opening experience," he says. "It

was 1982, four months before the military coup. Road blocks were up,

and kids were stationed at them with machine guns. I had a car and

a driver, an armed driver. One day the weather was gorgeous, and I

said to my driver, `Beautiful day.’ But the driver said, `No, sir.

It’s not beautiful. It’s too hot. Everybody’s malaria is kicking

in.’"

"I spent a month in the Philippines," Willis continues. "I

was in Manila on the first anniversary of Aquino’s assassination.

There were hundreds of thousands of people in the streets. That kind

of experience is priceless to me. Having had these experiences, I

will do anything to bring the same kind of experiences to my own

kids."

After a stint as an investment banker at Salomon Brothers that ended

in 1992, Willis went to Union Bank of Switzerland (UBS), as managing

director and head of the Yankee Bonds operation, which deals in

debenture

instruments issued in the United States by non-U.S. entities. "I

loved my job for many years," he says. "My gradual

disenchantment

was not coincidental with the markets falling, but was based on an

opportunity coming up."

The opportunity consisted of the chance to buy Quilty’s, with its

liquor license. Willis continued to work at UBS while he planned what

to do with the property, "but it was too much," he says. He

abandoned UBS this year. In short order he found himself involved

in, not one, but two restaurants.

Harriette explains. "Once we found out about Quilty’s, we bought

it, even though it was a small space. We really wanted a bigger space,

and learned that Emerald Coffee was available." The Willises

decided

to transfer Quilty’s liquor license to the larger location, but to

keep the smaller one. "We thought `Why abandon Quilty’s?’"

says Harriette. "It’s a great space. Many people want to bring

their own wine. So we’ll have Zanzibar, this fabulous restaurant

that’s

going to be everything, and also a bring-your-own-bottle place for

people who don’t want to spend as much."

She and her mother, an interior designer, are responsible for the

decor of Zanzibar. They have worked together in the past. However,

Harriette Brainerd Willis’ experience includes, besides interior

design,

restaurants, and teaching.

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Harriette Brainerd Willis’ Bio

The Brainerd family is from Bucks County originally. Harriette and

her sister commuted to Princeton Day School; their brother, to the

Lawrenceville School. "My mom worried about the kids doing all

that driving," says Harriette Willis, and the family moved to

Princeton when she was 14.

Harriette traces her restaurant experience to her senior year in high

school when she worked at the terrace of the Nassau Inn. During

college

she continued to work in restaurants. A member of the Middlebury Class

of ’83, two years behind Steve, Harriette majored in history.

She drew on the history background as a staff member at the

Lawrenceville

School, where she taught Chinese and American history, did admissions,

and coached field hockey. "I’m fascinated by the Far East,"

she says. "I did my thesis on American involvement in the Chinese

Civil War. I’ve taken advanced courses at NYU, and some day I’ll go

back." After graduation, because of her interest in politics,

she was attracted to Washington, D.C., and she managed lunch for a

D.C. restaurant.

Like her husband, Harriette experienced a growing disenchantment with

his work on Wall Street. "He was never home; he was traveling

all over the world," she says. On the rare occasions when Steve

was available, he and Harriette enjoyed dining in New York. "We

would say `Why can’t we do this in Princeton?’ I was very interested

in cooking, especially organic cooking, and I raised the kids on

organic

cooking."

Recounting the acquisition of Quilty’s, Harriette says, "We got

the inkling that we could get our hands on a liquor license. Once

we found out about the liquor license, that was the turning point.

When you’ve got the liquor license, you can do the kind of restaurant

you want. It would be the whole experience, the whole nine yards,

not just a matter of the revenue. We thought we had all the

ingredients

for success."

"Steve and I don’t do anything half way. We went to Portugal on

our honeymoon, and didn’t just stay in Lisbon. We went all over

Portugal

in 10 days. That’s our philosophy of life. With the restaurant,

everybody

warned us about the risks. Of course, you have concerns, but if you’re

aware of them, it’s not dangerous."

Adds Steve: "Many people believe that there’s a high degree of

risk in restaurants," he says. "That’s because the people

who ran them didn’t have a financial background, but had a food

background."

He distinguishes the Willis enterprise from restaurants whose owners

chief expertise consisted in knowing how to cook. "Harriette and

I are different," he says. "I have a financial background

and Harriette has a food background. Together we expect to achieve

the right kind of financial, professional, and personal return."

Despite his sanguine approach, Steve Willis, who is a principal member

of the National Association of Securities Dealers (NASD), is planning

an investment banking enterprise in Princeton. "It would be a

firm advising and executing bonds, determining the right price, and

selecting investors," he says.

"Previously, I advised clients from outside the U.S. about how

to raise funds in U.S. bond markets. I will be doing the same thing,

but it will be my own firm. I know who the bond issuers are, and who

the investors are. I have very good relationships built up through

years on the investor side. Really, the way you do it: you need a

system, whether it’s restaurants or investments, to be able to reach

people. I will be creating a weekly market commentary to be issued

by the firm, and faxed to business leaders and financial officers

throughout the world. And there will be lots of phone calls."

So far Willis’ investment bank has no name and no address. Still,

he says, "That’s my day job."

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Swartz, the Chef

To handle the cooking at Zanzibar, the Willises brought

in Scott Swartz, whose last engagement in the kitchen was at New

York’s

Union Square Cafe, the restaurant most frequently cited as top choice

by diners participating in the Zagat survey. Swartz will be in charge

of food preparation at Zanzibar, and its take-out satellite, Fork

in the Road. He was in on things when Alex Cormier was hired as the

chef for Harriette’s. Dropping by as Harriette plays down the

financial

risks of owning a restaurant, Swartz disagrees. "Investing in

a restaurant is the perfect way to turn four million dollars into

one," he says. A partner in the enterprise, he is happy to be

free of financial management.

Interviewed in the second floor space of Zanzibar amidst unopened

boxes the day before Fork in the Road opened, Swartz deftly handles

pre-opening details, while simultaneously talking about his role in

the Willises’ restaurant enterprise. "I met Willis through a

mutual

friend in New York who knew I wanted to move out of the city,"

he says. "I loved cooking in New York and wanted to own a

restaurant.

But there’s too much competition there. My first reaction was: So

there’s an investment banker who wants to open a restaurant.

Frequently

a person like that could be the worst person. I didn’t want to talk

to him." After an initial reluctant encounter with Willis, Swartz

changed his mind. "Steve wants to bring in professionals to do

what he can’t do," says Swartz. "The restaurant team is like

a sports team. Steve is the owner; he’s hired the coaches, which are

us, the professionals. We have to hire the players."

The Willises soon established that they share Swartz’s philosophy

of food, and that they respect his participation in their enterprise.

"Steve and Harriette want to deal with local farmers and use

organic

vegetables," says Swartz. "They’re not just owners who sign

checks. One of them will be on the floor every night. I’m a partner

and have a share in the restaurant. I have a vested interest in its

success."

Swartz, 33, was born in Summit. "I’ve always been interested in

food. My mother is a very good cook. I used to help her out with

dinner

parties at home. My father is a Ph.D. chemist, retired from Johnson

& Johnson, who started as a pharmacist. My parents told me that

cooking

was not a real job," he says.

When Swartz entered Hamilton College, he earned money working in a

restaurant whose cook was a graduate of Hyde Park’s Culinary Institute

of America. Encouraged to discover food as a serious endeavor, Swartz

left Hamilton for CIA. "At culinary school the thing I liked best

was learning the how and why. When you make Hollandaise sauce you

have to understand emulsions to know why it separates. When my father

was younger he made pills. The emulsions for making pills are the

same as the emulsions used in food. We used to discuss this sort of

thing at the dinner table." Swartz also holds a B.S. in hotel

management from the University of New Haven. "I’ve worked both

the front and the back of the house," he says.

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Swartz’ Bio

His starting job, an apprenticeship at Lutece under Andre Soltner,

catapulted Swartz into the most exalted realm of cooking. "When

I got the job at Lutece my parents realized that maybe cooking was

okay. They realized that I wasn’t going to be flipping burgers at

Denny’s. What I learned from Soltner was that there are three things

to do in a kitchen: The food must be seasoned properly, cooked

properly,

and served at the temperature it’s meant to be served at. Once you

do those three things, you can make a dish stand six feet tall. That’s

the beginning of all food."

Subsequently, Swartz worked at Feu Follet, in Mougin, France, rated

by the Michelin guide as the best bistro on the Riviera. He has spent

nine years in New York, in addition to Lutece, at the Gotham Bar and

Grill, and the Union Square Cafe. He helped open the Rialto north

of Little Italy.

"My food is contemporary American," he says. "It’s light

and focuses on a highly seasonal menu, which will change a minimum

of four times a year. I don’t like busy food. If you focus on food

that’s in season, there’s little reason to do anything to it. The

goal is to put complementary things together, and maximize their

flavor.

There’s no need to cover food up or clutter it. It’s more challenging

for a chef to work with a seasonal menu. It’s hard in winter. When

spring comes, it opens your eyes up. You feel like a child again."

Swartz’s avowed simplicity is more complex than it sounds. He cites

the salmon entree on the Fork in the Road menu as an example.

"It’s

salmon with local corn, scallions, and tomatoes. That’s all I add

to it. I serve it with an artichoke vinaigrette. You braise the

artichokes

in extra virgin olive oil with garlic, white wine, and lemon, and

puree them in a blender." Easier said than done.

"We chefs are also teachers," says Swartz. The day before

Fork in the Road is to open, a crew is at work in the kitchen dicing

tomatoes and grilling vegetables. Swartz has prepared model portions

of the dishes to be offered for the crew to use as examples. "As

a chef I won’t make every single dish. But the more knowledge I have,

the better teacher I’ll be. I’ll train others to do what I want. Maybe

the first week I’ll go to the market with the fish man at 4 a.m. But

I need to be able to work till midnight." He estimates that when

the kitchen is in full swing for both Zanzibar and Fork in the Road,

it will have 12 to 15 cooks.

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Zanzibar Independent

In Swartz’s mind Zanzibar and Harriette’s are not rivals. "They

will be independent operations," he says. Harriette’s, which seats

55 and has no liquor license, is about half the size of Zanzibar,

which has a full bar. "Certain things will overlap. We may

centralize

some of the purchasing. The idea is to have them not competing, but

complementing. Harriette’s will be doing a lot of walk-in traffic.

We expect lunch business to be bigger there."

Swartz is unconcerned about the battery of eateries on Nassau Street

within sight of Zanzibar. "It’s no problem that there is a Thai

restaurant in our building, and many other restaurants in the

area,"

he says. "The enlightened restaurant owners believe that all of

us will benefit because we’re so diverse. It’s a matter of bringing

more people to this part of Princeton. Everybody knows Witherspoon

Street. People don’t know this."


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