Davies takes over the running of the Murrayfield club from Craig Docherty, who will complete a transition into his new role as Scottish Rugby's head of retail and product licensing.
"We're delighted to welcome such an experienced operator as David Davies as the new managing director of Edinburgh Rugby," said Dominic McKay, Scottish Rugby director of commercial operations, communications and public affairs.
"David has a huge amount of knowledge and experience gained from delivering countless world-class events in and outside of the sport, and has a proven track record of driving up interest and revenues in a very impressive career. I'm sure he will make a big impact on Edinburgh Rugby's off-field operation."
Davies' most recent posting was the chief executive responsible for running the Forsyth Barr Stadium in Dunedin - New Zealand's biggest indoor stadium and host of four 2011 Rugby World Cup pool matches.
He moves to the capital with 28 years of international leisure, events and sports management experience, and as well as his time with Wasps and QPR, also boasts a stint as the chairman of British Ice Hockey on his CV.
He enjoyed a four-year spell as chief executive at Loftus Road with the then Championship side before switching to rugby for a further three influential years as chief executive of then Heineken Cup champions Wasps.
He established the club in their new Adams Park home in High Wycombe and played a key role in the creation of the Anglo-Welsh Cup.
Davies, who will start in the post full-time on Monday, said: "I'd like to thank Craig Docherty and his team for all the hard work that pre-dates my appointment, and look forward to working with them in the coming seasons to build on their successes.
"I feel privileged to get this opportunity as there is a huge amount of potential in the club from which a very bright future can be shaped. It's a very exciting time for the club and I'm delighted to be part of it."