Waller, who starts today at FTI’s London office, also previously worked as head of comms for alternative investment business Man Group.
He has also held senior comms roles at Allianz and Dresdner Kleinwort and was a senior consultant at Maitland.
Waller founded his own agency, Chancery Communications, after leaving the FT in 1997.
Andrew Walton, global head of financial services and senior MD at FTI Consulting, said Waller had "both an excellent external reputation in the industry and a very strong contacts book".
"In his new role, David will be focusing on a range of retained and transactional projects across the sector, and will bring valuable experience of specific areas including investment banking, asset management and insurance," he went on to say.