Russell was formerly head of data planning at Publicis Dialog where he worked with brands including Renault, Hewlett-Packard and Citibank.
His clients at TBCH will include 3 Mobile, De Vere and Royal Mail.
Russell said: "It is an exciting time to join TBCH. The role provides the challenge to leverage and integrate the vast data and technology heritage from Targetbase in the US, into the UK – enabling TBCH to deliver leading edge insights and data solutions for its clients."
Steve Grout, chief executive of Targetbase Claydon Heeley, said: "He has terrific expertise combined with a varied background – client, consultancy and agency.
"We're looking forward to having Peter help us take TBCH to the next stage as we build our business on delivering smarter creative solutions based on customer insight."
Russell is replacing Angela Livingstone who has moved to sister Omnicon agency Data Science.