Langmead replaces Simon Tiffin, who left NatMags a month ago to explore new projects.
He has been Wallpaper's editor-in-chief for four years and in September led the magazine's 10th birthday celebrations.
Jackie Newcombe, managing director of IPC SouthBank, said: "Jeremy is a hugely talented editor who has been at the helm during Wallpaper's most successful period since its launch in 1996."
Esquire has lost 17.6% of its circulation over a year, with its latest figure covering January-June this year standing at 52,437 copies.
Jessica Burley, managing director of NatMags, said: "We are delighted that Jeremy will be the new editor of Esquire. Not only does he have exceptional fashion credentials and an impressive features background, he also inspires those around him -- the perfect combination for one of the most exciting roles in the industry."
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