G. Kennedy Thompson, a former chairman and chief executive of Wachovia Corp., will join the board of BNC Bancorp in High Point, N.C.

The $2.15 billion-asset company said in a Tuesday filing with the Securities and Exchange Commission that Thompson would replace R. Mark Graf as the board representative of Aquiline Financial Services LP of New York.

Graf, a former chief financial officer at Fifth Third Bancorp, resigned from BNC's board last week after becoming the CFO at Discover Financial Services. Graf joined BNC's board shortly after Aquiline invested $35 million in the company last summer.

Thompson, an Aquiline senior adviser, resigned as Wachovia's CEO in June 2008 as the company struggled with mortgage defaults and issues in its investment bank. Wells Fargo & Co. bought Wachovia, of Charlotte, N.C., six months later.

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