Leopold David is the fourth and youngest child and second son of Lionel Nathan de Rothschild (1882–1942) and Marie Louise Eugénie Beer (1892–1975). From childhood he had a fondness for music and became an accomplished pianist and violinist. As a vocalist, he sang with The Bach Choir of London for many years and would later serve as its President. While in his teens, he joined the Royal Navy, serving for two years. He went to work at Kuhn, Loeb & Co., as well as at Morgan Stanley and Glyn, Mills & Co. before becoming a partner at his family's N M Rothschild & Sons in 1956.
While he has had a long and successful career in banking, his love of music and the arts played an important role in his life. An honorary member of the Incorporated Society of Musicians, among his many involvements, Leopold de Rothschild has served as: