The agency is being set up in a partnership deal with IPG that will see the rebranding of Springer & Jacoby London and its below-the-line sister agency The Reef to create Boymeetsgirl.
Law, who becomes the chairman of the agency, and Stanners, who will head the creative department, will be starting at the new agency in September.
Other partners of the agency are David Pemsel, formerly the head of Elizabeth Murdoch's TV programming company, Shine, and Paul Slaymaker, the current chief executive of S&J and The Reef and a founder of Delaney Fletcher Slaymaker Delaney/Bozell. Pemsel takes the role of chief executive while Slaymaker is to become the international and strategic development director.
The founding partners have formed a limited liability partnership with IPG, which will see the stakeholders directly liable for any losses the agency makes. Terms are still being thrashed out, but IPG is likely to hold close to a 60 per cent stake.
Initially, the partnership model adopted with S&J will be confined to the UK market. However, the founders claim that IPG has international ambitions for the proposition and Boymeetsgirl will have access to IPG's international resources. However, it will also be free to form partnerships with non-IPG agencies.
"The company is about the rules of attraction and forming modern relationships with clients and customers to offer multi-disciplined creativity to clients," Law said.
"Unlike a limited company, we all share risk and reward equally. This is going to be kind of an advanced model of St Luke's. We were searching for new models and because we only take a salary if we make a profit we really have to focus on succession management and financial responsibility."
S&J's creative director, Robin Weeks, will become the creative head of the DaimlerChrysler global corporate account.