Hargreaves and joint Credo founder Nick Rappolt, a former Firefly account director, are targeting clients in the IT, media, telecoms and professional services sectors.
Hargreaves has been on eight months' gardening leave since a failed boardroom coup led four of Firefly's six directors to quit, with founder and MD Claire Walker taking back full control of the firm (PRWeek, 9 September 2001).
Credo claims to have clients in two of its main areas of specialisation, but declined to give any further details.
The agency has also struck a tie-up deal with evaluation firm Report International, and claims to have shunned the retainer method of payment, instead working on 'exposure' charging for short and long-term projects
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum here.