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The Borromei Bank Research

The family

The first records of the Borromei family are from the late thirteenth to early fourteenth century, where they were firmly part of of the ranks of the new ‘middle class’ of San Miniato al Tedesco.

The origins of the Borromeo family

With a branch of the family already in Padua, it is not easy to explain why one of them should move to a small Tuscan hill town. All that is known about the first, Borromeo, is that he was dead by 1319. His heir was Franco or Francesco (d. 1344) who had four surviving children: Berardino (fl. 1313-25); Gherardo (fl. 1319-66); Lazzaro or Lazzerino; and Jacopo (fl. 1336-72). It was this generation and their children who moved rapidly into public office-holding within San Miniato.  

Here, we follow the careers of two of the sons of Lazzaro di Borromeo, Filippo and Berardino, whose descendants were to found major international banking houses in Milan, Venice and Florence. We start with Filippo di Lazzaro, beginning with his marriage, his part in San Miniato’s revolt against Florentine rule in 1367-70, then the family ‘Diaspora’ that followed the defeat of the rebels, and Filippo’s execution in 1370. 

By the time of the rebellion Filippo was a wealthy man. His goods and possessions in Florence in 1370 were valued at over 2,000 florins (roughly £280 sterling in terms of the gold content of the florin and the English gold noble at this point). In 1375 his goods and possessions in Sanminiatese territory were listed as more than 1,200 staiora of arable land (360 acres or 146 hectares), more than 24 houses and farmhouses, two towers and a mill on the river Elsa. Sanminiatese records before 1368 also show that one of his main sources of income came from money lending and Filippo had obviously invested the profits in building up a very substantial landed estate.  

He had made a significant marriage, to Talda Lascaris di Tenda, the elder sister of Beatrice Lascaris di Tenda who married first Facino Cane, a leading condottiere in the service of the Visconti rulers of Milan and then, after Cane’s death in 1412, Filippo Maria Visconti, duke of Milan. Filippo di Lazzaro’s marriage goes a long way towards explaining what happened to his family after 1370, since Milan was to become the refuge for some of his children, and perhaps to his political motives in joining the rebellion against Florence in 1367, which eventually resulted in Filippo’s execution and in his family’s exile. 

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