Please help identify this anime or OVA from 14 years ago about magic
This sounds like Doomed Megalopolis.



(From Wikipedia):


  Doomed Megalopolis (帝都物語 Teito Monogatari?) is a supernatural/dark fantasy anime. It is an adaptation of the historical fantasy novel Teito Monogatari by Hiroshi Aramata. The anime is darker, more violent and sexualized than any previous adaptations of the novel; an artistic decision probably inspired by the financial success of the OVA Legend of the Overfiend. Like its live-action predecessor, Tokyo: The Last Megalopolis, the anime is only an adaptation of the first 1/3rd (the first four books) of the original novel.
  
  It was released by Toei in 1991 as a 4-part OVA. In 1995, ADV Films gained the rights to the anime and released it on a four-volume cassette series in the US, under the title Doomed Megalopolis. In 2001, ADV re-released the entire series on a 2-Disc DVD edition. However, this release did not have the original Japanese soundtrack or any special features. Eventually, ADV gathered the rights to the original Japanese voices, and in 2003, re-released an enhanced version entitled Doomed Megalopolis: Special Edition, wherein the Japanese language option was available and bonus features, such as interviews and documentaries were added.[


It's around the right time frame, though it's not listed under the programs broadcasted by Bravo.

The main antagonist is an evil wizard with white gloves with a pentagram on it, and in the beginning of the movie, he blocks the arrow:



The start of the movie has this old guy:



There's also this scene:



More info:


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