I received a call from HR, then a call from the head of the department. This was not a typical interview process because the program I applied to was different from the usual "summer analyst" position.
I applied through a recruiter. The process took 2 weeks. I interviewed at UBS (London, England) in Oct 2012
Interview
I applied for a summer analyst position in the Equity Research Desk. After the online application and online tests (numerical & logical), I was invited to a first round phone interview with the HR. Questions were mostly competency based, including why UBS, why equity research, and also some market-based including what would you do if you had 1 million pounds. After a week, I found out I didn't get the job.
Interview questions [1]
Question 1
What was the greatest risk you took in the last 12 months?