Born in London, the son of Levy Salomons of St Mary Axe and Frant, Sussex and Matilda de Metz of Leyden (married in 1795), he followed his father into business in the City of London, where he was a successful banker.
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It was created on 26 October 1869 for David Salomons, a leading figure in the 19th century struggle for Jewish emancipation in the United Kingdom, with remainder in default of male issue of his own to his nephew David Lionel Salomons and the heirs male of his body.