Kaye and Glover each have a 50 per cent stake in The Academy, which has already secured a new brief covering the News UK brand’s social and PR strategy following a pitch.
They will be joined by director Gemma Vardon, who began her career at Mischief in 2007 and has since worked at agencies including GolinHarris and Unity.
Kaye set up Mischief PR in 2006 and Glover joined shortly afterwards as creative director. The agency became the youngest to win the Consultancy of the Year category at the PRWeek Awards in 2010.
The new venture will be focused on collaboration with strategic and creative figures not just in PR but beyond, The Academy CEO Kaye said.
He added: "Some agencies are strategic, but lack creativity. Others have the ideas, but lack the thinking to do them justice. We feel there is a big gap in the industry for an agency to deliver both.
"While our focus will be on delivering great work, the agency will also provide the ultimate environment for the best talent to study and learn their craft."
The Academy's creative director Glover said: "We’ll be keeping the agency really simple; focused on the work, focused on client satisfaction and focused on developing our people.
"Our aim is to be the very best in the industry, but also push the boundaries of what PR can achieve by collaborating with talent from different backgrounds. We look forward to proving it all again."