Starcom's Richard Hartell is also in the frame as an internal candidate for the role, which was created in the wake of a restructure in May. The restructure was overseen by the newly installed UK chief executive, Linda Smith.
Palmer is currently working for Starcom on a project-by-project basis as a consultant via his strategic planning consultancy, Maverick Planet.
The restructure at Starcom included the newly created strategic planning division, which will be overseen by the new planning director.
Palmer, who parted company with OMD in March last year, set up Maverick Planet one year ago.
Maverick provides consultancy on UK and international business. Its clients include Vodafone Global, Reckitt Benckiser Global and Dixons Stores Group.