Is being a Corporate M&A Analyst in a BB the same as being in Corp Dev for that BB?

At certain BBs, people tend to join the financial analyst program, do a two year rotation in something like Investor Relations, and then become Corporate M&A analysts at that BB.

From what I've heard, the financial analyst program and rotation is BO, but is the Corporate M&A Analyst position BO too, or is it Corp Dev?

Thanks!