Production and finance company FilmEngine Entertainment has tapped former New Regency senior VP Navid McIlhargey as president.

Company has also closed a low seven-figure revolving development fund with Italia Film Intl., according to a Wednesday release from FilmEngine and multiple sources with knowledge of the deal.

McIlhargey will oversee creative development and production for the company’s slate, which currently consists of 10 films and 15 TV projects. Company hopes to put around four films into production per year through separate equity investments.

To date, shingle has produced more than a dozen pics, including the Robert De Niro-John Travolta film “Killing Season,” slated for release next year. Other FilmEngine credits include “The Rum Diary,” “Sleepwalking” and “Lucky Number Slevin.”

McIlhargey, who most recently helped package Regency’s “Gray Man,” which has Brad Pitt attached to star, will report to FilmEngine’s CEO and founder Anthony Rhulen.

“After New Regency, I was excited to have a chance to help grow a business,” McIlhargey commented. “With Anthony, we have the ability to finance development and production, which opens up an unlimited number of opportunities.”

While at 20th Century Fox-based New Regency, McIlhargey led production and development for Emile Hirsch starrer “The Darkest Hour” and the James Mangold-helmed “Gunslinger.”

In a move that surprised some observers, McIlhargey exited Regency late last year during exec shuffles that saw the installment of current CEO Brad Weston.

Prior to joining Regency, exec held posts at Silver Pictures and Revolution Studios. McIlhargey began his career at UTA.

FilmEngine, founded in 2001, currently has 13 employees headquartered in Los Angeles.