Wolfgang’s Steakhouse Global President Peter Zwiener talks about banking, meat, and the behind-the-scenes details of creating an F&B powerhouse.
For some, a long career in banking and finance, and a steakhouse would seem like odd career pairing. But for Peter Zwiener, global president and managing partner of Wolfgang’s Steakhouse by Wolfgang Zwiener, there has been no better recipe for success.
Banking as a business foundation
In 2004, Zwiener’s father and Wolfgang’s Steakhouse founder Wolfgang Zwiener, built his flagship restaurant in what used to be Vanderbilt Hotel in Park Avenue, Manhattan. While the Zwiener patriarch took from his 40-year tutelage as a head waiter in Peter Luger’s legendary Brooklyn steakhouse, his son – save for a passion for food, wine, and the hospitality industry – held no prior restaurant experience.
Yet, 14 years later, customers find the well-loved steakhouse burgeoning in key cities across the world, with the younger Zwiener at the helm. Currently, Wolfgang’s Steakhouse serves 19 locations: nine in the US, and 10 in Asia (including two in the Philippines), plus two more installments in BGC, and at the corner of Manhattan’s Broadway and 36th underway. Also brewing are potential partnerships with local businessmen in Europe, Latin America, Middle East, and Australia.

Zwiener, whose 16-year investment banking repertoire includes world-renowned brands such as Citigroup, Dresdner Kleinwort Benson, and ING Barings/ABN AMRO, claims that it was his banking roots that “laid the foundation of running a successful, sustainable, profitable business.”
“As an M&A banker, I advised many companies in their strategic and operational direction, learned the art of negotiation, raised capital, formed joint ventures and partnerships, and constructed and analyzed financial statements and operating budgets, as well as understand the legal and labor issues that commonly arise in managing and operating businesses. All these tools and experiences helped me form a corporation that could operate profitably while expanding rapidly and globally,” he recalls.
Secret recipe
The secret, Zwiener shares, does not only lie on a business’s operational perspective, but foremostly in ensuring absolute customer satisfaction. To do so, he goes to great lengths to provide consistent, world-class workforce training, cross-training key employees between global locations, including the first units in New York.
“(We) allow employees the latitude to take on challenges without micromanaging, however, when necessary, (we) provide guidance. Lead by example and create an enjoyable and challenging work environment where everyone is respected,” he explains.
The same is required of the steakhouse’s partners, who “travel constantly to each of the locations many times a year for an extended period of time to oversee the operations and maintain consistency and quality.”
Partners are an essential element of this iconic steakhouse. Straying away from the oft-used franchise model, Zwiener’s company handpicks them through a rigorous vetting process, where they are selected based on their zeal and experience in the food and beverage industry, knowledge of local culture and laws, and relationship with the local community. These do not only prove to be ideal but also crucial qualifications to maintain the Wolfgang’s Steakhouse benchmark.
Meat of the matter
Of course, it cannot be denied that much of the repeat visits are to be credited to Wolfgang’s Steakhouse’s grade A proteins. While menu staples are similar in most steakhouses, Zwiener’s brainchild prides itself in using only USDA Prime Angus beef in entrees – a rating bestowed to only two percent of all US beef.
You can indulge in premium meat acrossthe steakhouse’s signature dishes that include Porterhouse Steak, Rib Eye, Filet Mignon, among others. Apart from a dollop of appetizing sides, an assortment of salads, appetizers, and desserts also await diners. Some locations serve unique sides and lunch items too that are not available elsewhere, such as the Taste of New York, and Wolfgang Lite.

Whether it’s happy hour or in-between breaks, those who can appreciate a good glass of vino will find a visit to be more than satisfactory. Each Wolfgang’s Steakhouse location boasts a wine cellar with an extensive collection of the world’s finest wines – between 600 and a thousand – most of them sourced from internationally acclaimed vineyards like Napa Valley and Bordeaux.
In addition to crafting well-curated dishes, Zwiener also mastered the art of aging meat. Found in each Wolfgang’s Steakhouse location are dry-aging boxes where bone-in sub-primal cuts – short loins, strip loins, rib eye – rest for three to four weeks prior to broiling. The result: tender, flavorful slabs that’s unmistakably Wolfgang’s Steakhouse.
All about commitment
Such commitment comes as second nature to Zwiener, whose restaurateuring efforts are largely centered on providing an unparalleled fine dining experience.
“We believe in putting the customer first. Our customers want to have consistent, high-quality products at value-driven prices in a fun, warm, and exciting environment – and that is exactly what we do best. We want to keep them excited and (ensure) consistency in product and service and attention to detail, as well as keep up with the changes as our customer base gets more discerning,” he enthuses.
A self-described optimist, Zwiener says there will always be setbacks, but persistence always wins. In many ways, Wolfgang’s Steakhouse is the epitome of what becomes of persistence and passion when pursued.
“Think big. Never get too complacent. Don’t listen to or be influenced by naysayers if your heart and mind really believe in a well-thought-out idea or business plan. What makes us a stronger is how we cope with these career setbacks. (You will) come back even stronger – but only if you are passionate and remain optimistic and vigilant to persevere.”

Visit Wolfgang’s Steakhouse today at The Podium,18 ADB Avenue, Ortigas Center, Mandaluyong and at 2/F Newport Mall, Resorts World, Pasay. Learn more at www.wolfgangssteakhouse.ph.
 
Words by GRETCHEN FILART