Giovanni di Bicci de' Medici

Giovanni di Bicci de' Medici (c. 1360 – February 1429) was an Italian banker and founder of the Medici Bank. While other members of the Medici family, such as Chiarissimo di Giambuono de' Medici, who served in the Signoria of Florence in 1401, and Salvestro de' Medici, who was implicated in the Ciompi Revolt of 1378, are of historical interest, it was Giovanni's founding of the family bank that truly initiated the family's rise to power in Florence. He was the father of Cosimo de' Medici and of Lorenzo the Elder; grandfather of Piero di Cosimo de' Medici; great-grandfather of Lorenzo de' Medici (the Magnificent); and the great-great-great-grandfather of Cosimo I de' Medici, Grand Duke of Tuscany. Biography Giovanni di Bicci de' Medici was born in Florence, Italy. He was the son of Averardo de' Medici and Jacopa Spini. His father, Averardo died in 1363 with a respectable amount of wealth. This inheritance was divided among Giovanni and his four brothers, leaving Giovanni with very little. However, his uncle, Vieri de' Medici, was still a prominent banker in Florence. Vieri helped Giovanni begin his career in the Florentine banking system. He worked his way up through the ranks, eventually becoming a junior partner in the branch located in Rome. Vieri de' Medici retired in 1393 leaving the bank in the hands of Giovanni. From this point the Medici bank grew vastly and quickly. This growth culminated with the acquisition as the Chief Papal Banker, which meant that the Medici Bank now handled the accounts of the Church. The Medici family bank, which he founded in 1397, became his main commercial interest. The Medici bank under Giovanni had branches throughout the northern Italian city-states and beyond, and constituted an early "multi-national" company. Giovanni owned two wool workshops in Florence, and was a member of two guilds: the Arte della Lana and the Arte del Cambio. In 1402, he served as one of the judges on the panel that selected Lorenzo Ghiberti's design for the bronzes on the doors to the Florence Baptistery. Giovanni also funded the construction of the sacristy in the Church of San Lorenzo in the year 1418. He picked Brunelleschi to be the architect and chose Donatello to create the sculptures.