Nicholas came from a landowning Devonshire family with connexions of service and feudal tenure to both the Courtenay earls of Devon and the Holand earls of Huntingdon.
Yeo’s status within his craft was underpinned by his successful dealings as a cloth merchant, for by the early 1430s he was involved in the burgeoning export trade to the continent. Over the course of just a few months in 1433 he shipped several different kinds of cloth, including scarlet and kendale, to both northern and south-western Europe; his later dealings concerned commodities such as tin and pepper, as well as cloth; and his trading activities overseas were evidently of a scale that warranted the opening of an account with the London branch of the Italian Boromei bank.
Like many of his fellow merchants Yeo did not trade solely in one commodity, and this diversification enabled him to respond on two occasions to demand for goods in the capital. In May 1438 he was granted a licence by the Crown enabling him and others to buy 200 quarters of grain in East Anglia for shipping to London, where a severe shortage of grain was driving up prices. Over the course of the next 18 months the city government, led by Stephen Brown*, organized further shipments of grain to alleviate the crisis, and these efforts were so successful that by September 1439 Yeo came before the mayor and aldermen to undertake to provide storage space for £20-worth of grain, should the store-rooms in the city prove insufficient to house the vast quantity of grain (worth 1,000 marks) that had been purchased.
By 1436 Yeo had acquired property in the city and in neighbouring Middlesex that was estimated to yield an income of some £25 p.a.
Yeo’s civic career followed a conventional path. He was among the representatives of the commonalty who attested the parliamentary election of 1435, and in the autumn of the following year he was himself chosen as one of the two common councilmen who were to represent the City’s interests in the Parliament summoned to meet on 21 Jan. 1437. In an unusual turn of events, however, four days before Parliament assembled Yeo was elected as an alderman for the ward of Farringdon Without in succession to John Paddesley who had secured a move to Langbourn Ward. In order to avoid having three aldermen in Parliament (in contravention of the City’s customs), Yeo’s installation as alderman was delayed until 10 Apr., by which time Parliament had been dissolved.
In February 1441 Yeo petitioned the court of aldermen asking to be exonerated from his aldermanry, giving as his reason his intention to set out on a pilgrimage to the Holy Land, but was refused. The salvation of his soul was nevertheless at the forefront of Yeo’s mind, perhaps because of ill health, and in April of the same year he obtained a papal grant enabling him to receive full remission of sins from a suitable confessor. It is uncertain whether he ever made his planned journey to the Holy Land: he seems to have been absent from London for at least part of the year, but his presence at the election of the mayor on 13 Oct. would seem to rule out a long voyage.
Very little is recorded of Yeo after the summer of 1442. He was only appointed to one further post in the city (that of auditor for work being carried out on the conduits at the instigation of William Estfield in July 1444), and in the autumn of that year he was present at the election of the mayor for the last time.
