Santander IBD SA 2026

For Santander CIB's "business case" interview, based on the most helpful WSO content, you can expect the following:

1. Business Case Format:

   • Typically, a business case interview involves analyzing a scenario or problem and presenting your recommendations. This could include financial analysis, strategic decision-making, or market evaluation.
   • Be prepared to interpret data, charts, or financial statements and provide logical, structured solutions.
   • Practice frameworks like SWOT analysis, profitability analysis, or market entry strategies, as they might be relevant.

2. Preparation Tips:

   • Refresh your technical skills, especially around financial modeling, DCF, and LBOs, as these are often tested in such cases.
   • Rehearse your ability to articulate your thought process clearly and concisely.
   • Review Santander's recent deals, market positioning, and strategy to tailor your responses to their business focus.

3. Santander CIB London Culture:

   • Insights from WSO threads suggest that Santander has been actively hiring, including talent from Credit Suisse, which indicates growth and ambition.
   • The culture in London is described as entrepreneurial and collegiate, with a focus on collaboration. However, like many banks, the concept of "facetime" may still play a role, so be prepared for long hours.
   • Networking and building relationships within the firm are highly valued, as demonstrated by candidates who connected with multiple employees before interviews.

4. General Advice:

   • Stay humble and approachable during the interview. Personality and fit are often as important as technical skills.
   • Use the SOAR framework (Situation, Obstacle, Action, Result) to structure your answers to behavioral questions.

Good luck with your final round!

Sources: UBS SONRU First Round Video Interview, Q&A: Career start and progression across IBD // Restructuring // PE special sits, Barclays Internship Recruitment Process - Business Insight Assessment - Video Interview, London Business School MFA Interview