Wagner, 52, is a founding director of BlackRock BLK where she retired as a vice chairwoman in July 2012 and continues as a director.
Wagner will continue to serve as a director of BlackRock as well as a board member of Swiss Re, Wellesley College and Hackley School.
Wagner replaces Campbell, age 73, who served on Apple's board for 17 years and was a member of its audit and finance committee, and its nominating and corporate governance committee.
As a non-employee director, Wagner receives a $50,000 annual retainer and participates in Apple's director stock plan.
In after-hours trading, Apple was changing hands unchanged at $93.10.
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