Preheat oven to 350 degrees F. Spray a 9-x-9-inch baking pan with nonstick spray.
Start by preparing the crumb mixture. Melt butter in a heatproof bowl. Let cool for 2 minutes. Stir in brown sugar and granulated sugar. Add flour and cinnamon and stir to combine. Mix in chopped pecans, use your hands (optional) until mixture is coarse and crumbly. Set aside.
In the bowl of your stand mixer, cream together the butter, milk, eggs and vanilla. In another bowl, whisk together the flour, sugar, and baking powder. With the mixer running on low speed, add the flour mixture and continue stirring until just combined.
Pour half of the cake batter into the prepared baking pan. Place in the oven and bake for 5 minutes.
Remove pan from the oven, spread half the crumb mixture over the cake layer. Carefully pour remaining batter evenly over the crumb layer. Sprinkle remaining crumb mixture on top. Return pan to the oven and bake for another 50-60 minutes or until a toothpick inserted in the middle comes out clean. Cover cake with aluminum foil towards the end if crumb mixture appears to be browning too much. Remove from the oven and place on wire racks to cool completely.
Once cake has cooled, whisk together the ingredients for the glaze in a small bowl. If glaze seems to be too thick, add more heavy cream. Glaze should be slightly runny. Drizzle glaze over the cake, using a spoon, and cut into squares.