I applied online. The process took 2 weeks. I interviewed at UBS (London, England) in Jan 2014
Interview
I did an online application, followed by an online numerical/logical test.
Another onsite numerical test right before the interview, followed by an interview with two portfolio managers from the passive investing department.
Interview questions [1]
Question 1
Fairly straight forward: mostly competency based questions. Regular motivational questions.
They never called me back, neither answered to my email. That is super rude.