I applied through university. The process took 8 weeks. I interviewed at UBS (London, England) in Oct 2014
Interview
The standard process - though I applied through my university. There was an extensive online application including a numerical and some sort of spatial reasoning test (if I remember correctly). There was no phone interview. We then had an assessment centre with a group negotiation, a presentation, a written numerical test, and two interviews.
Interview questions [1]
Question 1
How many cars do you think there are in the world?
Initially filled in online application which was followed by a phone interview - mainly competencies based(with HR) and one question "How would you invest 1 mln GBP"
Then followed by Assessment Centre where we had a case study, a presentation and two rounds of interviews plus numerical test. Both interviews were commercial awarenesss even though the fist was supposed to be competencies I was only asked one competency. Was also asked a brain teaser which was a basic maths question.