Peter Nichols Named Chairman of Film Financier Prescience (Cannes 2011)
Nichols is the owner of wealth management biz Chancery, which has raised over $800m for British films over the last decade.
CANNES -- Peter Nichols, owner of the Chancery group of wealth management businesses, has joined U.K.-based film financier Prescience as its new chairman.
Chancery, founded by Nichols, is one of the U.K.’s leading providers of integrated financial solutions and has raised in excess of £500 million ($800 million) for British movies over the last decade.
Chancery and Prescience have a long-standing working relationship and both Nichols and Prescience managing director Tim Smith are directors of the Aegis Film Fund, lead financier of Oscar winner The King’s Speech.
Nichols has simultaneously acquired an undisclosed strategic shareholding in the Prescience group of companies.
As chairman of Prescience, Nichols will play a key role in the continuing development of Prescience as it consolidates its position as an integrated media company and one of Europe's leading funders of independent film, both in the U.K. and U.S.
Prescience recently announced a joint venture with long time collaborators Ealing Studios to merge their respective sales operations Metropolis and Ealing Studios International into Ealing Metro, headed up by Will Machin. The fresh look sales operation launched during the Marche du Film in Cannes.