Reich was Peyton Manning's quarterbacks coach in 2009 and '10 before coaching Reggie Wayne and the rest of the receivers in 2011.
Reich replaces Chuck Pagano as coach after a search that took a few twists and turns.
Reich spent nine of his 13 National Football League seasons with the Bills as Jim Kelly's backup quarterback during the team's Super Bowl years.
Bills defensive coordinator Leslie Frazier was also interviewed for the Colts' vacancy. In 2013 he was hired by the San Diego Chargers as their quarterbacks coach and became the team's offensive coordinator the following year, before joining the Eagles in 2016.
John DeFilippo, the Eagles' quarterbacks coach the past two seasons, was named the Minnesota Vikings' new offensive coordinator Friday.
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Following the completion of the transaction, the director now directly owns 7,099 shares in the company, valued at $96,333.43. The company had revenue of $202.30 million for the quarter, compared to the consensus estimate of $193.74 million.
"Frank has all the ingredients of a successful head coach: intelligence, innovation, character, organizational and leadership skills, and a commanding presence", Colts owner Jim Irsay said in a statement.
The Colts can not repeat the embarrassment of unpredictability they experienced with their pursuit of McDaniels. Reich shared his personal story with the audience, one of perseverance and being a man of integrity. None of those things means he'll be a great head football coach, but it should reflect that he'll be upfront and honest in dealing with management and players. Multiple assistant coaches signed contracts thinking they would work under McDaniels.
The other challenge for Reich will involve his coaching staff.
Reich, 56, brings a wealth of offensive experience to the organization. Could he be the right choice?
This column is the commentary of the writer and does not necessarily reflect the views or opinions of The News-Sentinel.