John Rivers left Lucre last month without a job to go to, just four months after he was recruited to launch the agency's digital off-shoot Moolah.
Lucre has now poached Cake Group digital chief Jono Marcus to take over and launch the division. He starts work at the agency next month.
But the name Moolah has been scrapped and the new division will instead be called Lucre Social. The official launch has been delayed until Marcus starts.
Lucre director Sophie Spyropoulos said: 'Moolah has not been officially launched and is still a work in progress. It was a mutual decision that John left us. Jono will now be given a free rein with the new social media division. We aim to take a more integrated approach with it.'
Lucre's main office is based in Leeds and the agency has 35 staff. Marcus will work between the agency's London and Leeds offices. He has worked at Cake since February 2008 and took over the head of digital comms role in February last year.
Marcus also previously worked as an account manager at Hill & Knowlton.
Rivers joined Lucre from digital agency Bell Design in February. He previously worked at HarperCollins as digital marketing manager.