Phone interview with the manager, then phone interview with the Director, then office interview with 4 people on the team.

I received an email from a recruiter asking if I was interested in a position in Jersey City. Then I received another email inviting me to apply, complete pymetrics, and schedule an interview date. I had three back-to-back interviews with a partner and two directors. I thought the interviews were very conversational and they didn't have a case or scenario part. Only one question about excel formulas. They were very upfront about long hours and that they needed people with quantitative and programming backgrounds. A week later my recruiter called to say I wasn't moving forward. I thought recruiters were very formal and prompt.