Dyche has signed a two-and-a-half-year contract at Goodison Park.
Manchester City are not expected to sign a replacement for Bayern Munich-bound Joao Cancelo.
The Northern Irishman birdied the final two holes at Emirates Golf Club to card a closing 68 and finish a shot ahead of Reed on 19 under par.
Gareth Thomas, the former Wales rugby captain, has agreed a £75,000 settlement with the ex-partner who accused him of "deceptively" transmitting him with HIV.