His parents emigrated with him from Norfolk to Southern Rhodesia when he was quite small, but in 1956 he returned to Britain to attend Harrow School.
Savory trained as a stockbroker in New York, after which he joined the family firm of Foster & Braithwaite in 1963, where he specialised in research, fund management and corporate finance.
For over thirty years he had been a member of the Executive Council of the Soldiers, Sailors, Airmen and Families Association (SSAFA).
Savory was elected to the Court of Common Council of the City of London in 1980 becoming an Alderman for the Ward of Bread Street in 1996.
He has served on all the principal Committees, and was Sheriff in 2001–2002, Lord Mayor in 2004–2005, and later received a knighthood for his services to the City of London.