Geoff Lloyd, a former chief executive of Perpetual Limited and National Australia Bank’s MLC Wealth arm, has been named chairman of Stake as the six-year-old online stockbroker shores up its governance amid heightened scrutiny of low-cost and self-directed trading models by global regulators.

Mr Lloyd said he was attracted to the Bondi-based broker’s loyal customer base, which is growing at 15 per cent a year. He commenced as Stake’s chairman late in May.