Cordiant Communications is expected to sell its Financial Dynamics, one of London’s top IR firms, to a management team led by CEO Charles Watson. He was responsible for July’s restructuring of Cordiant’s IR units under the FD International brand. That’s when Morgen-Walke Assocs – which Cordiant acquired in the $420 million July 2000 pick-up of Lighthouse International – became known as FD Morgen-Walke. Cordiant, in April, took a $224 million writeoff for Lighthouse.

Anton Nicholas

Anton Nicholas, who joined M-W in 1999 after five years of experience with Sard Verbinnen & Co. and Abernathy MacGregor, heads FDM-W. He spent 18 months with FD London before relocating to New York in 2001.

Nicholas has not been reached about the management buyout. An industry analyst told The Guardian that the buyout deal amounts to a "fire sale" by Cordiant. The deal is likely to fetch about $40M.

Cordiant, earlier this month, kicked off negotiations to sell its Australian operation. Its stock trades in the $2 range.