He washed dishes beneath BlackRock’s headquarters, landed his dream job there—then quit to build his family’s restaurant empire

Anthony Scotto III has a clear vision for his future: he intends to travel to the small Italian island of Ischia with a handwritten family address, hoping for a warm welcome. Yet, he recently left a prestigious position at BlackRock to assist his family in building their restaurant empire, Pelato. The 30-year-old has moved from a sought-after job to this new endeavor, accepting the tradeoffs that come with it.

He now works seven days a week, rarely takes vacations, and is responsible for a workforce of 300. Scotto admits, "I've never worked harder in my life; I've never been more stressed on a day-to-day in my life."

Both sides of Scotto's family immigrated from Italy in 1905, settling first in Manhattan's Little Italy before relocating to Brooklyn. Restaurants have been a part of his life since birth; his father's Midtown Manhattan restaurant, Fresco by Scotto, opened in 1993. Even as a child, he spent summers and breaks working in the restaurant, washing dishes before eventually taking on more responsibilities in the kitchen.

This early exposure to the restaurant industry taught him invaluable lessons about the hustle and bustle of the culinary world.

Growing up in Manhattan, Scotto admired his peers and their families' ability to build generational wealth through finance and real estate. By age 12, he had decided that was the world he wanted to enter. While living under BlackRock's former headquarters on East 52nd Street, he saw the company's name regularly and grew up dreaming of working in finance.

His journey led him to pursue a degree in finance and land a coveted internship with BlackRock's real estate private-equity team. He helped source, underwrite, acquire, and sell properties, eventually becoming an assistant portfolio manager for one of the team's largest funds. For Scotto, this role was not just a stepping stone in his career; it was the culmination of years of hard work and family pride. He was the first family member to graduate from college and enter Corporate America.

COVID-19 hit Fresco, the family restaurant, hard during the pandemic, cutting off the primary source of income for the family. This led the Scottos to Nashville, where Scotto's sister studied and the family witnessed a rapidly growing city filled with development. Scotto initially continued working remotely for BlackRock while helping his parents open Luogo, a Nashville restaurant modeled after Fresco.

He negotiated the lease, managed financial projections, and dealt with legal and accounting arrangements before allowing his father to handle daily operations. After BlackRock reopened its New York offices, Scotto faced a difficult choice: return to his high-stakes corporate job or stay in Nashville to help his family's restaurant grow.

What sealed the decision for Scotto was a promising restaurant space he discovered in Nashville's Germantown neighborhood. While canvassing the area, he learned that the previous tenant had fallen behind on rent. Intrigued by the building's history as a mop-and-broom factory and a series of failed restaurants, Scotto saw potential and jumped at the opportunity.

Within three weeks, Pelato was born. He knew he had a career path that many would die to have. Despite the stresses of the restaurant business, Scotto finds immense fulfillment in watching customers enjoy dishes rooted in his family's history and witnessing the growth of the brand he and his mother have built together. For Scotto, the ownership and control of Pelato are paramount, as he can make changes directly and directly reap the rewards of their success.