
The pair will take an equity share in the company when they assume their positions as creative directors in April.
Walker and De Souza will work with Buonaguidi, the agency's creative partner and founder, to manage the creative output across Karmarama's client base including Lastminute.com, Nintendo and Comedy Central.
Since joining Fallon in August 2007, Walker and De Souza have worked predominately on the BBC business, producing award-winning campaigns, including the BBC3 "fearless" ad, which picked up a silver at the 2009 British Television Advertising Awards, and the bronze Cannes Lion-winning BBC Blast online campaign.
Their departure coincides with the first stages of the BBC's roster review, in which Fallon is defending its position as an incumbent roster agency.
The appointment comes soon after Karmarama bolstered its management team with the appointment of Ben Milligan, the strategy director of Holler Digital, as its planning director. All three will work with the agency founders on running the agency.
Before joining Fallon, Walker and De Souza worked separately – the latter at Mother and the former at Wieden & Kennedy Amsterdam.
The pair began their careers together at Mother, where De Souza picked up a D&AD black Pencil for his Britart campaign.