Is he at McKinsey? I've heard they sometimes give unusual titles to people who are either lateral hires with little relevant work experience or have PhDs. So instead of just being one of hundred Business Analysts, they get a slightly fancier title to indicate that they are not 22 year olds fresh out of school. (I guess the story would be the same at the B's)

The business of business is business.
 
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This also depends on whether they are consulting staff or not - each MBB has a different name for their research team, but I think the senior analyst role exists at two of them. Plus, at least McKinsey and BCG also have research institutes (McK Global Institute, BCG Strategy Institute, etc.) where that might be a title.

I'm pretty sure Senior Analyst is not a consulting title in the Americas or Asia-Pacific for BCG and Bain. Less clear on McK.

 

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