An ex-Pimco guy is doing croque monsieurs. A BNP risk manager is about to leave for crepes. What will you contribute? If Boeuf Bourguignon is out of your comfort zone, tear up some pieces of a baguette and smear some chocolate on them and call it a day.

Cohen, a risk manager for BNP Paribas SA in New York, is leaving France’s largest bank next week to start a crepe business. The 34-year-old said he’s opening Crepes & Delices within the month to bring French flavors and quick service to Manhattan’s Upper West Side. “I was very happy at BNP, but I wanted to do something different and I wasn’t as excited as I used to be working in finance,” said Cohen, a French native who previously traded derivatives and mortgage debt during eight years at the bank. “I didn’t go to a culinary school but I did a two-week-long training program in France to learn to make crepes.”

Cohen is the second French bond executive in the U.S. to quit finance and pursue cooking dreams in the last month. Jeremie Banet left Newport Beach, California-based Pacific Investment Management Co. to start a food-truck business selling croque monsieurs, or ham-and-cheese sandwiches, in Los Angeles and Orange County. Cohen said he devoured the French staple during economic undergraduate studies in Paris. In February he went to Brittany, France, to hone his skills making the thin pancakes, which are filled with sweets, such as chocolate spreads, or savory ingredients, like cheese and meat. He’s found co-investors for the restaurant from New York and France and plans to expand to beyond Manhattan.

BNP Paribas Manager Exits Wall Street for New York Creperie [Bloomberg via Lauren LaCapra]

26 comments (hidden to protect delicate sensibilities)
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Comments (26)

  1. Posted by low fruit quant | July 9, 2014 at 1:20 PM

    BNP cooks really tasty books….

  2. Posted by 80's Lover | July 9, 2014 at 1:24 PM

    how retro.

  3. Posted by YOLO | July 9, 2014 at 1:26 PM

    That's it. I'm quitting stock loan to start a Welsh rarebit cart on 5th and 54th.

  4. Posted by Is it gc?? | July 9, 2014 at 1:27 PM

    Probably a better move

  5. Posted by Barefoot Contestant | July 9, 2014 at 1:34 PM

    My Jefferies colleague left to set up a PB&J shack that features Fluffenutter, Nutella and Lotus Biscuit Spread.

  6. Posted by Quant me maybe... | July 9, 2014 at 1:37 PM

    Only in France:

    2 weeks of crepe training > mba + cfa

    >follow your dreams, bud.

  7. Posted by Guest | July 9, 2014 at 1:38 PM

    Clearly the guy doesn't know how to manage his personal risk. Crepes? How passe.

  8. Posted by Debbie Downer | July 9, 2014 at 1:38 PM

    A lot of people are going to be working some sort of fryolator wondering how the hell they got there. The blood is going to continue to flow

  9. Posted by Viva La france!! | July 9, 2014 at 1:43 PM

    They are probably backing his silly ass. They love anything having to do with France, America not so much.

  10. Posted by Guest | July 9, 2014 at 1:46 PM

    looks like a lateral move to me

  11. Posted by Out of options quant | July 9, 2014 at 1:56 PM

    Im just going to drive a handsome cab. Wait what, he did WHAT??? Guess it will be handys on 7th avenue

  12. Posted by Semper Gumby | July 9, 2014 at 1:56 PM

    Nice try fella. The Mandlebaums made their fortune in crepes 50 years ago.

    -Izzy Mandlebaum

  13. Posted by goldmember | July 9, 2014 at 2:03 PM

    crepe and a pipe?

    plays well in boulder, amsterdam, soon to be seattle.

  14. Posted by crepe me home tight | July 9, 2014 at 2:07 PM

    Im sure this was part of his severance package. Keep your mouth shut cohen and we let you make da chocolate pancakes yes??

  15. Posted by Guest | July 9, 2014 at 2:08 PM

    “I didn’t go to get a degree in anything that would help me manage risk but I did a two-week-long training program in Wilton to learn how to manage risk.”

    – former AIG FP Head of Risk

  16. Posted by Guest | July 9, 2014 at 2:20 PM

    It sounds dumb but Iran has a surging demand for pancakes.

  17. Posted by guest | July 9, 2014 at 2:26 PM


  18. Posted by Mitch | July 9, 2014 at 2:26 PM

    Dumbest part is that he's opening up a crepe place on 72nd between Columbus and Broadway, which is within a few blocks of an existing crepe place.

  19. Posted by George Michael Bluth | July 9, 2014 at 2:28 PM

    My dad has already hooked me up with a frozen banana stand. I am expanding into Iran, Sudan and North Korea by years end

  20. Posted by guest | July 9, 2014 at 2:29 PM

    I take it you're not a golfer.*

    * Or a Seinfeld fan.

  21. Posted by guest | July 9, 2014 at 2:57 PM


  22. Posted by Guest | July 9, 2014 at 3:55 PM

    Risk is what you make of it.

  23. Posted by George Bluth Sr. | July 9, 2014 at 4:13 PM

    There was $1million cash lining the walls. There's always money in the banana stand!

    No touching!!

  24. Posted by Jean Girard | July 9, 2014 at 4:43 PM

    I will let you go, Ricky. But first, I want you to say…"I… love… crepes."

  25. Posted by Canole Quant, BNP | July 9, 2014 at 8:21 PM

    I'm going to open up a canole shop across the street and put this stupid FROG out of business. Afterwards, I'll expand the empire to Sudan and Iran…

  26. Posted by Head FX Quant, BNP | July 9, 2014 at 8:22 PM

    "you think you're better than him?"