Guess I will jump in to end your agony. Truth be told, HK IBD are as picky as their US, London conterparts are, if not more. Houses like MS will take an oversea hiring tour (on mostly east coast) to only a handful school (probably no more than 5 or 6, given the presently crappy yet improving economy, damn...).
Local HK MBA schools just stand zip or just minor chance to get in BB because after all, there are already so many eager human beings from US TOP5 (with LBS thrown in) begging for a piece of action in HK IBD. On the other side on US Top 15-20, I just don't know, I am sure they will place some ppl in but definitely not based on the school power those hires went to. It's a brutal matter of trying and networking. Ppl at Top 15-20 surely have a shot but they just need to do everything harder.
Depends...In US, alumni plays a big role in getting their fellow xue di or xue mei hired. Whereas in HK, that kind of sense loses a bit because obviously you can't just swim back and forth between your US B-school and their HK offices.
The first round interview will clean out those clueless and less-eager crowds. On the second round (i think for summer that's final round), everything is fair game. Again, luck plays a role here as well. IBers are not just looking for the best or most qualified finance jocks but instead selecting those ppl they find really interesting and who have the right mix of chemistry and competence, which is quite important when you guys work at 3am in the morning.