With the ready response of a silky-smooth operator, Hargreaves - who left Firefly after a failed boardroom coup that saw founder Claire Walker regain full control of the firm - says he was aware of the existence of the other Credo, but had always thought that its activities were confined to marketing.
'The important thing is whether or not the firms operate in the same area of competitive business', says Hargreaves, adding hastily that he needs to make some calls.
In the meantime, the former Firefly deputy MD might find some words from the other Credo helpful.
'Imitation may be the sincerest form of flattery,' says Colin Sneath, MD of the pre-existing operation. 'But wouldn't it have been sensible to check this sort of thing before the press launch?' We couldn't possibly comment.