The appointment marks FCB's move towards rebuilding its management team after the departure of some senior figures last year. Al Young, FCB's creative director, left the agency in December 2005.
The hiring reunites Fraser with FCB's recently appointed chief executive, Nigel Jones. Jones and Fraser worked together at BMP DDB, where Jones was the planning director.
Fraser started his career at DDB London in 1991. He has worked on accounts including Volkswagen - for which he won four Cannes gold Lions.
Separately, the FCB network has relaunched with a new corporate strapline: Full_Contact.
Fraser said: "I'm very excited to be joining Nigel at FCB London. He is building a completely new management team from many different disciplines, to create an agency where integration is a given, not just a goal."
Separately, the FCB network has relaunched under the new corporate identity Full_Contact. The name marks the network's intentions to offer a fully integrated service on a more personal level.