Woods and Thompson previously worked as a creative partnership at Claydon Heeley for five years.
Thompson joins RMG Connect after a six month self-imposed break.
He will report to Woods, who joined RMG in September 2007, and assist in managing the agency's 40-strong creative team, working across all accounts including Rimmel London, HSBC and Tourism Ireland.
Woods said: "Nick is a hugely talented and passionate creative and I'm over the moon that he's joined the team.
"I can't wait to see what we can come up with together, to not only maintain the massively high standard of creative work we are currently producing at RMG Connect, but to better it as well."
Thompson said: "It feels great to be working with Dave again; it's exciting to be part of a team who are so committed to delivering digital integration across their entire client portfolio and I'm sure that 2009 will be a very rewarding year for the agency."