Greig, 48, has around 20 years experience in newspapers and has previously worked for the Daily Mail, Sunday Today and The Sunday Times. He has been editor of society magazine, Tatler, since 1999.
Greig is due to start at the paper at the end of February. In the interim, the paper is to be edited by Andrew Burdiss, currently deputy editor. It is understood that Wadley will remain with DMGT in a consultacy role but has already finished editing the Standard.
The appointment of Greig follows the sale by Daily Mail & General Trust (DMGT) of a majority stake, 74.9%, in the Evening Standard to the Russian oligarch Alexander Lebedev.
Lebedev has formed a new company with his son Evgeny, Evening Standard limited, in which DMGT will be a 25.1% shareholder.
Lebedev is promising to invest millions to guarantee the survival of the loss-making newspaper, but has yet to disclose a business plan for the Standard. It is understood Andrew Mullins will remain managing director and Simon Davies advertising director.
The Standard's ad team is likely to increase with ten new appointments. Lebedev is also looking to appoint a high-profile editorial and advisory board, including Tony Blair and Mikhail Gorbachev.
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