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1
To make the syrup: Combine 1 cup of water and brown sugar in a heavy medium saucepan.
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2
Bring to a boil over high heat, stirring until the sugar dissolves.
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3
Boil until the syrup reduces to 1 cup, about 10 minutes.
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4
Remove from the heat and whisk in the cream and cinnamon.
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5
Keep the syrup warm. (The syrup can be made 1 day ahead. Cool, then cover and refrigerate. Rewarm before serving.).
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6
Meanwhile, prepare the French toast: Preheat the oven to 200 degrees F.
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7
Trim the bottom crust of the panettone.
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8
Starting at the bottom end of the panettone, cut it crosswise into 6 (3/4-inch thick) round slices (reserve the top piece for toast!).
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9
In a large bowl, whisk the eggs until well blended.
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10
Add the cream, milk, and sugar and whisk until well mixed.
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11
Melt 1 tablespoon of butter on a large nonstick griddle over medium heat.
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12
Dip 3 slices of panettone into the custard, turning to allow both sides to absorb the custard.
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13
Grill the soaked panettone slices until they are golden brown and firm to the touch, about 4 minutes per side.
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14
Transfer the French toast to a baking sheet and keep them warm in the oven.
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15
Repeat with the remaining butter, panettone slices, and custard.
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16
Transfer the French toast to plates.
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17
Dollop the mascarpone atop each.
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18
Lightly dust with the powdered sugar.
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19
Drizzle the cinnamon syrup over and around the French toast and serve immediately.
