Wall's job will include overseeing all non-US operations, developing the network's global client base and exploring the potential for expansion into other markets. He will report to Fallon's worldwide chairman, Pat Fallon.
Wall will remain in London for the foreseeable future, juggling the presidency and his current position of managing partner with responsibility for business development.
Fallon said: "Creating this position shows our belief in Michael as a leader as well as Fallon's commitment to expanding our global presence.
"Michael has the relevant brand experience, proven market experience, high standards of excellence and the character to get the very best out of our talent.
"While Fallon grows internationally, we will do it skilfully and to the unique qualities of our brand. I am 100 per cent confident Michael is the right person for the job."
Wall was one of the five founding partners who launched Fallon's first international venture, Fallon London, in 1998.
The agency has since opened in Hong Kong, Singapore, Sao Paulo and, most recently, in Tokyo last year.
The aim is to continue this trend and open up to ten creatively driven offices in world business centres.
Wall said: "This is a great role to take on and I hope to contribute in our drive for global business and in serving our clients, and to continue the development of our offices around the world."