Peters, who joins from PHD, will be based in Ogilvy's Canary Wharf offices but will divide his time between the two WPP-owned agencies.
Peters will provide media strategy for the creative department at Ogilvy, while helping clients serviced by both agencies receive a more seamless creative and media offering. He will report to the Ogilvy planning director, Jane Cunningham, and MindShare's head of communications, Rosie Faulkner.
He will also train Ogilvy's planners in channel planning.
The Ogilvy Group UK chairman, Mike Walsh, said: "This joint initiative with MindShare is a natural move, given the clients we share and the value that proper channel planning can add to our 360 deg communications offer."
Peters, who takes up the position on Monday, was responsible for developing PHD's total communications planning systems while working as a media director on a range of accounts including the BBC, Prudential and Expedia.
MindShare's chief executive, Kelly Clark, said: "This joint hiring will deliver a much more integrated offer. We believe that great communication strategies come from a joined-up approach."