The process took 1+ week. I interviewed at Pershing (New York, NY) in Jan 2009
Interview
I interviewed with nine people, on three separate days. It was very quick, efficient, the basic interview questions were asked, and very conversational. Each interview lasted about 25 to 30 minutes. Be sure to ask several questions about the culture, and be clear about what's expected of the drive. Come to the table with what you can offer.
I applied through a recruiter. The process took 1+ week. I interviewed at Pershing (Jersey City, NJ) in Apr 2010
Interview
The hiring manager was quite abrupt and not really listening to my answers. It seemed like she had already decided that I didn't have the qualifications and was doing the interview to meet her quota of interviews. She only spent about 20 minutes with me.
I should have been a viable candidate for this position and felt that I deserved an in person interview. Maybe they had an internal candidate but why go through the process and waste time? (despite any legalities)