Working closely with the executive creative director, Graham Fink, Saville will work on a project basis, offering advice and critique on campaigns for various clients.
However, he will not be involved in the creative process.
Saville said: "I'm not going to be hands-on. Other people will be doing the work. But if I have something to offer to the evolution of the department, then I want to do it."
Saville studied graphic design at Manchester Polytechnic between 1975 and 1978, before becoming one of the founding partners of Factory Records.
During his time at the recording company, he created iconic album covers for bands such as Joy Division and New Order.
Since then, he has worked for clients including the Pompidou Centre in Paris, The Whitechapel Art Gallery, Givenchy, Adidas and bands such as Pulp and Suede. He currently holds the position of creative director for the City of Manchester.
Fink said: "Peter has been creating iconic brands throughout his career and will be able to do this for our clients. Who wouldn't want him working on their business? Design and advertising don't often sit well together but Peter is so different from anyone else that he brings the two together."