Dan Davey, who managed Cedar's client services department, has been brought in as managing director of the new company.
Davey's remit will be to win new business for the company, which focuses on delivering contract publishing solutions across online and offline platforms in the UK and internationally.
The company launches with several contracts already in place, and will be based at Progressive's head office in Blackfriars, London.
Progressive, which employs more than 2,000 people globally, has offices in the UK, US, India and Australia.
As well as publishing B2B magazines such as design title Blueprint and financial services title CEO, Progressive Media's portfolio includes New Statesman and the Press Gazette.
Press Gazette was bought out by Progressive Media in April last year, which saved the publication from possible closure. The title had been struggling since it was saved from administration by Wilmington Group, which bought the publication in 2006.
Joe Terreni, chief executive of Progressive private portfolio companies, said: "Progressive Customer Publishing will offer brands a truly cross-platform and international service solution, utilising the broad and experienced resource we have across the group, both public and private.
"Dan was a natural choice to bring in as MD with his impeccable track record and huge experience in dealing with major international brands like Tesco, TUI, Nikon and Reuters."