The final AC involved 3 interviews with people at various levels of the company, ranging from analysts to VPs. They were mainly competency based, with the usual questions such as how you demonstrated leadership, give an example of where you failed at something, and they also asked 'why investment banking/equity research'. They also wanted to know which sectors I was interested in and talked about recent developments in those sectors. After the interviews we had a group exercise. Each person was given one investment proposal and as a team you had to decide which was the best and pitch it to a 'team of investors', followed by Q & A. Finally there was the individual presentation, you were given a large pack of information on two rival firms and had to pitch one of the two.