LITTLETON, MA (January 13, 2014) -- Octant Business Services, LLC, a CUSO offering business-loan underwriting, servicing and portfolio administration, announced today that its President & CEO, Bob Cipriani, will retire once a successor is named. Until then, Cipriani will continue in his current position, allowing for a smooth transition. He has served as CEO since 2006.
“Under Bob’s leadership, we have experienced significant growth in the past seven years,” said Tom White, Chairman of Octant’s Board of Managers. “His dedication and commitment positioned Octant for continued growth and success. During his tenure, we have expanded Octant’s offerings to more than 25 credit unions, increased our financial stability and improved operational efficiency.”
Smith & Wilkinson, a leading regional executive search firm, is assisting a search committee formed by Octant’s Board to identify Cipriani’s successor.
“Octant has a strong management team and excellent employees, and it’s been a privilege to work with them,” said Cipriani. “Together we have grown the business, strengthening our position as the partner of choice for financial.
Octant Business Services
“Octant Business Services’ CEO Bob Cipriani to Retire” institutions seeking help with business lending. I am confident of Octant’s future success and look forward to working with the Board to ensure an orderly transition.” Octant is owned by nine New England credit unions. For more information, visit www.octant.us or email info@octant.us.
About Octant
Octant Business Services, LLC, is a credit union service organization (CUSO) that offers commercial loan underwriting and servicing to credit unions in the New England area. Octant is owned by Align Credit Union, Lowell, Mass.; Bridgewater Credit Union, Bridgewater, Mass.; Digital Federal Credit Union, Marlborough, Mass.; Eastern Corporate Federal Credit Union (EasCorp), Burlington, Mass.; Granite State Credit Union, Manchester, N.H.; Jeanne D’Arc Credit Union, Lowell, Mass.; Northeast Credit Union, Portsmouth, N.H.; Rockland Federal Credit Union, Rockland, Mass.; and First Citizens’ Federal Credit Union, Fairhaven, Mass. The CUSO assists credit unions with the marketing, processing, underwriting and servicing of small-business and commercial real estate loans. For more information on Octant, go to www.octant.us.