Littleton-based credit union service organization Octant Business Services has hired Lawrence Murphy as president and CEO. Murphy will succeed Bob Cipriani, who announced his planned retirement in January 2014.

Most recently, Murphy served as commercial examinations manager for TD Bank, where he was responsible for planning, risk assessment and execution of U.S.-based commercial loan exams on a national basis. Before that, he served in varying capacities for 19 years with Santander and Fleet Bank.

Octant is jointly owned by Align Credit Union of Lowell; Bridgewater Credit Union of Bridgewater; Digital Federal Credit Union of Marlborough; Eastern Corporate Federal Credit Union of Burlington; Granite State Credit Union of Manchester, N.H.; Jeanne D’Arc Credit Union of Lowell; Northeast Credit Union of Portsmouth, N.H.; Rockland Federal Credit Union of Rockland; and First Citizens’ Federal Credit Union of Fairhaven.