Callender - research chief since 2001 - joined Schroders as head of international property research earlier this year.
IPD said Frodsham joins at main board level to lead its global research operations. He rejoins IPD after seven years at Legal & General, the firm said.
Also joining is Sabina Kalyan as chief economist. She currently heads commercial real estate economic research at Capital Economics.
The two join in the autumn and will be based at IPD's London headquarters.
"Malcolm is one of the UK's most highly respected and well-known investment strategists and researchers," said IPD co-founding director Ian Cullen.
"Sabina's experience is in researching and forecasting the macro-economic framework of property market processes.