The new agency, Iris Sponsorship, will be run by Peter Harris, Vodafone's ex-global head of sponsorship and media, who was responsible for the company's sponsorship deals with brands including McLaren, Manchester United and Uefa.
Iris Sponsorship will have a presence in all eight of Iris' offices worldwide. As well as providing clients with assistance in understanding and activating sponsorship deals, it wants to take a non-traditional approach to sponsorship, by putting more of an emphasis on strategy, measurement and return on investment.
The new venture will work closely with all other Iris agencies globally, including Iris PR, Iris Experience, Iris Direct and Iris Digital.
In his seven years at Vodafone, Harris also served on the Formula One Commission, and led the development of Vodafone's global music and digital media strategy.
Harris said: "During my numerous years in the industry, I've not found an agency that can deliver end-to-end sponsorship solutions from strategy through to activation and everything in between.
"I'm extremely excited to be in a unique position to create a sponsorship agency that offers world-class capability across all spectrums at a global level."