Citi affiliate Continental Entertainment Capital (CEC) has hired EWB Finance co-founder Yann Le Quellec as managing director.

Le Quellec will head the company's new European operation CEC Europe in Paris and will report directly to CEC's president and CEO, Benjamin Waisbren.

CEC Europe will provide structured financing solutions to European media and entertainment companies with a special focus on the film industry.

Le Quellec co-founded consulting and corporate finance services company NetsCapital in 1998 and five years later launched EWB Finance, which helped raise and structure $300m in equity and debt financing and advised leading European producers, distributors and financiers on film financing strategies.

Le Quellec is also a co-founder and Managing Director of SoficaCinemage, dedicated to French independent production financing, whichis now in its 3rd year and has invested in 30 films.

Launched in April 2007, CEC has been active in Europe, including its widely publicized equity investment in Wild Bunch. Le Quellec acted as an advisor to Wild Bunch on the transaction through EWB Finance, an affiliate of Wild Bunch.

Commented Waisbren, 'The European film industry is not only an exciting market with great potential, it is also a challenging environment where each country has its own unique attributes. Yann is a brilliant financial professional who knows the European Market. He will be instrumental to the company's international growth.'

In the U.S., CEC is currently providing financing for two films: The Laundry Warrior produced by Barrie Osborne, Michael Peyser, and Jooick Lee, and starring Geoffrey Rush, Kate Bosworth and Korean star Jang Dong-gun; and Frank Miller's The Spirit starring Gabriel Macht, Scarlett Johansson, Eva Mendes, Sarah Paulson, Dan Lauria, Paz Vega, Jaime King and Samuel L. Jackson for Lionsgate.

Launched in April 2007, and based in New York, Los Angeles and Paris, CEC is an affiliate of Citi's Global Special Situations Group, a principal finance division of the global corporate and investment bank.

The company operates as a specialty investment and finance company targeting the global entertainment industry. An IFTA member, CEC offers customers senior and mezzanine debt financing and invests equity in operating companies and special purpose entities.