Medici Bank Branches

About Medici Bank Branches

The Medici Bank operated branches across Europe from 1397 to 1494. At its peak, the bank had 11 branches in cities including Florence, Rome, Venice, Naples, Milan, Geneva, Lyons, Bruges, and London. Each branch was managed by a local partner who shared profits with the Medici headquarters in Florence. This partnership structure was an early form of the modern corporate subsidiary. The branches financed trade in wool, silk, alum, and spices. They also handled papal finances, making the Medici the bankers to the Pope. The Medici Bank declined after the death of Lorenzo de Medici in 1492 and was dissolved in 1494 when the Medici were expelled from Florence. The bank is the most studied financial institution of the Renaissance.