What do you think about a person trying to get into investment banking as a 40 year old person looking for a role as an associate with an MBA have you ever seen that before I have heard that is has been done
We personally have not seen that before. Most investment banks are recruiting associates within a narrower range of work experience / age. There might be exceptions. Have you asked those within your network who might know? Most 40+ year olds getting MBAs are usually looking at part-time or EMBA options.
No, although I'm sure it helps given these schools' numerous alumni working for investment banks and long recruiting relationship with the banks. But do research the relationships your target b-school has with recruiters from investment banking. The employment reports are a good place to start!