For the private bank in Austria that failed due to its investment in Bernard Madoff's Ponzi scheme, see Bank Medici. The Medici Bank Industry Financial services; Banking Fate Liquidated Founded 1397 Defunct 1499 Headquarters Florence, Republic of Florence (present day Italy) Key people Giovanni di Bicci Cosimo de' Medici Piero di Cosimo Lorenzo de' Medici Francesco Sassetti Piero di Lorenzo Products Commercial banking Investment banking Private banking Retail banking Pawnbroker Number of employees >40 Parent Vieri di Cambio's bank Subsidiaries Branches in Rome, Venice, Milan, Pisa, Geneva, Lyon, Avignon, London, Bruges The Medici Bank (Italian: Banco dei Medici [ˈbaŋko dei ˈmɛːdiʧi] ) was a financial institution created by the Medici family in Italy during the 15th century (1397–1494). It was the largest and most respected bank in Europe during its prime. [1] There are some estimates that the Medici family was, for a period of time, the wealthi...