Hipwell, who joined MCA two years ago, confirmed this week that he has held talks with a number of City PR consultancies about possible positions, quashing rumours he was considering making a comeback in journalism.
He said he was leaving MCA this week to take a three-month break, but wanted to remain in City PR.
'I'm considering using all the contacts I've developed and techniques from Max to take to a large City PR firm where the skills could be very useful in a hostile bid situation,' said Hipwell.
At MCA, Hipwell has handled blue-chip clients such as Claims Direct and listed global football agency First Artist.
Hipwell left the Daily Mirror nearly three years ago following DTI allegations that he had bought shares in firms tipped in the newspaper.