Phone interview first, very easy. Then set up for a panel of management interview. Up to 3 managers possible. I had 2 managers. They asked tough questions - about the economy, a lot about credit, personality questions, and some screwballs to see how you react under pressure. Kept my cool and received great feedback.

Standard three round interview assessing behavioral and technical skills followed by an in-depth interview by an MD. The behavioral interviews were standard questions about certain situations or reasoning for applying for the job. The technical interview was centered around corporate finance.