Carat picks up the account, which is worth in the region of £9.78m, from Universal McCann.
Mike Moore, executive director of consumer markets at TMG, said: "We have had a long and successful relationship with Universal McCann. However, my restructure of the department gives us the opportunity to bring new expertise into TMG.
"We look forward to working with Carat to put our common vision for the future at the forefront of our Consumer Markets activity, and especially to maximize our reach across digital platforms."
TMG declined to release information about the length of the new contract, because specific details are reportedly still being finalised.
Neil Jones, managing director at Carat, said: "Telegraph Media Group is both an innovative organisation and an iconic brand and we're delighted to be working with them to help deliver their ambitious growth objectives."
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