News of Expectation emerged last year, ending months of speculation in the media industry that Fincham, a former ITV director of television, and ex-Endemol Shine Group chief Tim Hincks were poised to join forces.
Now the commercial arm of the BBC has invested in the company, taking a 24.9% stake and a place on the board.
Hincks and Fincham have also said Expectation will operate across unscripted and scripted programming with six divisions: drama, comedy, factual entertainment, entertainment, reality and factual.
Nerys Evans, who left her role as deputy head of comedy at UK broadcaster Channel 4 last week, joins as creative director for comedy having worked on shows including Catastrophe, Flowers and The Windsors.
Nick Mather, who becomes creative director for entertainment, worked at Endemol Shine for a decade as creative director of the central team and MD at Remarkable Television, before taking on a consultancy role at Tuesday’s Child. His credits include BBC1 shows Pitch Battle and Pointless.
Meanwhile, Nick Samwell-Smith, who left Endemol Shine last year after spending 19 years at Initial, joins Mather as creative director for entertainment having worked on shows including Big Brother for Channel 5.
Fincham, co-CEO at Expectation, said: “It’s not much of a secret that Tim and I have been planning a start-up together and we’ve reached the right moment to take the wrappers off. First and foremost, Expectation is a creatively led indie – we’re going to put people and programmes first, second and third.”
Fellow co-CEO Hincks added: “I’m ridiculously excited to be launching Expectation with Peter. Expectation has one simple aim, which is to create a home for creative people to do what they do best; a home where the best talent can create and produce the best, most engaging, innovative and entertaining content for the UK and the world. And, above all, we’re going to have fun doing it.”
The former Endemol Shine exec added: “We have exciting announcements that we’ll be making in the near future about other creative talent – not all of whom have names that begin with ‘N.’”
Fincham said the company had started talking to broadcasters about ideas and said BBCWW’s investment would help it extend its reach on “new platforms and create opportunities on a global level.”
Tim Davie, CEO of BBCWW, added: “Expectation is a creatively led company. Peter and Tim are two of the most respected creatives in the television business, and to be involved in supporting a production company with their vision and passion for producing bold, exciting and popular content was irresistible.”
Expectation, which has been advised by Stella Capital Advisors and Olswang, is based in West London. Its team already includes Rob Brown, chief financial officer; Kellie Turner, executive assistant to Hincks and Fincham; and assistant producer Ros Owino, who previously worked in development at Studio Lambert and Fresh One.
Hincks left his role as president of Endemol Shine Group after 17 years with the company in January 2016. Seven days later, Fincham exited ITV after eight years with the broadcaster to be replaced by Kevin Lygo.
Expectation is believed to be named after Fincham and Hincks’ band No Expectations.