Davis will be co-managing director and Kelliher will serve as director of sales & marketing. Antonio Salas, also former of Beyond, has been appointed sales & acquisitions assistant.
Phil Hunt, Greg Cruttwell and Compton Ross will continue as the co-managing directors of Head Gear, which expanded from production to financing in 2006. Maria Carrion will continue as head of production at Head Gear in addition to co-ordinating acquisitions for Bankside.
London-based Bankside hasn't yet revealed its initial slate but the company will launch officially at Berlin 's European Film Market.
'Head Gear Films is intent on building a vertically integrated film business with its existing secure financial grounding,' said Hunt, who will also serve as co-managing director of Bankside. 'We are delighted to have attracted such leaders in their field as Hilary and Stephen to head up our new division.'
'With such strong financial backing, we are confident about being able to attract high profile commercial films for international release,' said Davis and Kelliher.
The company will have access to funding for minimum guarantees against worldwide rights as well as access to Head Gear's existing gap-financing fund. Recently the fund has invested in Anthony Byrne's How About You, Nick Broomfield's Ghosts (sold by Beyond), and Roger Spottiswoode's Shake Hands With The Devil.
Head Gear and Bankside will have a close- but not exclusive- relationship, so that Head Gear projects can go through outside sales agents and Bankside can take on non-Head Gear productions.
Beyond is an Australian-based production and sales company which had concentrated its film sales division out of London. Beyond couldn't be reached at press time for comment about plans for its UK sales office.
Head Gear's credits include Rabbit On The Moon and Chunky Monkey.