His elder brother was Jacob Levi Montefiore, who was for some years a member of the New South Wales Legislative Council.
[2][5] The couple moved to Melbourne in 1853, after Eliezer had been appointed manager of the Melbourne branch of his brother Jacob's firm, Montefiore, Graham & Co.[6] He left the firm to become secretary of the Australasian Insurance Co., and was appointed justice of the peace, but his interests lay in literature and the arts.
[2] After moving to Sydney, he was involved in the founding of the New South Wales Academy of Art (later the Art Gallery of New South Wales) along with his friend Thomas Sutcliffe Mort, and was the first director of the gallery from 1892 until his death in 1894.
[6][2] In August 1894 he travelled to Melbourne and Adelaide to assess artworks for exchange with the NSW Art Gallery.
[2] Montefiore Crescent, in the Canberra suburb of Conder, is named in his honour.