Roland Rudd, who founded Finsbury in 1994, is interested in buying the unit back from WPP, a deal that could fetch $130M for the beleaguered ad/PR conglomerate.
The Financial Times reports that Rudd, who sold Finsbury to WPP in 2001 but remains chairman of the financial PR/PA powerhouse, is working to line up financing for the transaction.
Since that effort is in its early stages, there is no guarantee that the former FT journalist will pull off a deal.
Rudd is one of "London's most-connected executives," according to the FT, which cited his close ties with ex-prime minister Tony Blair.
WPP CEO Mark Read, who took over the helm from the ousted Martin Sorrell last summer, has been in the process of streamlining WPP and revamping as a "creative transformation company."
The UK-based Finsbury merged with New York-based Robinson Lerer & Montgomery in 2011. It also has partnered with Washington's Glover Park Group and Germany's Hering Schuppener shops.