Vieri de' Medici
Vieri di Cambio de' Medici | |
|---|---|
| Born | 1323 |
| Died | 1395 |
| Occupation(s) | Financier, banker |
| Years active | –1393 |
| Known for | Member of the Medici banking family; founder of Vieri di Cambio de' Medici & Co. |
Vieri di Cambio de' Medici (1323 – 13 or 14 September 1395) was a Florentine financier and a remote member of the Medici banking family.
He was the offspring of Cambio di Filippo de' Medici, belonging to the Lippo di Chiarissimo lineage. His cousin, Salvestro di Alamanno de' Medici, gained recognition for his involvement in the Ciompi Revolt.
Career
Vieri became affiliated with the Arte del Cambio, a prominent Florentine banking guild, where he honed his financial skills. His initial significant enterprise, Vieri di Cambio de' Medici & Co., oversaw the transport of Florentine merchandise via Pisa in 1369. Subsequently, he collaborated with notable bankers such as Niccolò di Riccardo Fagni, Giovanni di Arrigo Rinaldeschi da Prato, and Jacopo di Francesco Venturi. In 1382, his distant kinsman Francesco di Bicci de' Medici entered the firm as a junior partner.
By 1385, Vieri and Venturi had established a partnership operating branches in Venice—specializing in foreign exchange bills—and maintained correspondents along the Dalmatian coast, particularly in Zara. Francesco de' Medici rose to senior partner status by 1390, coinciding with the opening of an additional branch in Genoa. Vieri also managed a Roman branch alongside Giovanni di Bicci de' Medici, Francesco's younger sibling, under the name Vieri e Giovanni de' Medici in Roma, founded in 1386.
Vieri withdrew from banking activities by 1393; his bank ceased operations around 1391–1392. Its holdings were apportioned among family members who established three separate banking ventures. The first was initiated by Vieri's nephew Antonio di Giovanni de' Medici with partners Giovanni di Salvestro and Jacopo Venturi but was dissolved by 1395. The second was created by Francesco di Bicci de' Medici for his son Averardo and remained active until 1443. The third and most prosperous was launched by Giovanni di Bicci de' Medici together with Benedetto di Lippaccio de' Bardi in Rome—later recognized as the Medici Bank—which significantly elevated the family's status. Documentation from 1397 indicates Giovanni took over all assets and debts from Vieri’s bank, including considerable non-performing loans. Despite incurring losses exceeding 860 florins, Giovanni successfully established a lasting banking institution that thrived for many years.
Political stance
Following his retirement from finance, Vieri aligned politically with Maso degli Albizzi. He held the office of Gonfaloniere of Justice between May and June 1392. Numerous observers anticipated he might spearhead an uprising against the Albizzi administration, reminiscent of his cousin Salvestro’s leadership during the Ciompi Revolt.
Personal life
Vieri entered into two marriages: initially to Valenza before 1364, who passed away childless in 1378; subsequently to Bice di Pazzino Strozzi, daughter of a political ally. Bice gave birth to two sons, Niccola (born 1384 or 1385) and Cambio (born 1390 or 1391), along with two daughters named Valenza and Bice. Per Vieri’s testament dated 12 August 1395, each daughter received dowries amounting to 1,200 florins, while his sons inherited the balance of his estate.
Niccola and Cambio founded their own banking house in Florence with an extension in Rome but did not match their father’s expertise. By 1433, they had liquidated most of their real estate holdings to settle their bank’s debts.
Vieri de' Medici died on either 13 or 14 September 1395 and was interred at Florence Cathedral.