From Deadline|London editor Tim Adler: Tanya Seghatchian has been picked to manage the new unified film fund which brings together the UK Film Council’s 3 existing development and production funds for £15 million a year. That represents a 12% cut in the £17 million currently available. But the UKFC is determined to cut its running costs by 20% over the next few years.

Seghatchian has run the UKFC’s development fund since 2007. Projects that she’s helped develop include In the Loop and Sex&Drugs&Rock&Roll. She’s the producer who helped create the Harry Potter franchise for Warner Bros. Seghatchian brought the first Harry Potter book to the attention of producer David Heyman. She then worked with Heyman and author JK Rowling on developing the book series into the film franchise.

The Film Council says that Seghatchian has taken a “substantial” pay cut to run the fund. Seghatchian’s current salary is £150,000 a year – still more than a top government minister gets paid. It’s also 3 times more than the average development exec in Britain earns.