EY OTS rebranding to EY-Parthenon M&A Strategy - Thoughts?
I'm a 2nd year MBA who has friends who were at EY OTS over the summer. They've been invited to join the "M&A Strategy" practice at Parthenon for the return offer and the practice is advertising themselves as such on campus for full-time hires. Basically, they're creating an "S&O" practice and refer to themselves as such internally (but not externally), legacy Parthenon being the S, and OTS being the O.
Apparently they're offering all hires $170k base to be in-line with Parthenon and competitive with MBB.
Here's the question: Outside of people feeling good that the name was changed, does this change matter at all in terms of resume strength or exit opps? It seems like the barrier between Strategy and Opps will still be there; rather, they're just trying to make the OTS people who are undoubtedly re-recruiting for mbb or even Tier 2 feel good by throwing them the Parthenon name bone. This isn't to knock OTS at all, it's doing incredibly well and is top-notch at what they do, even beating out MBB on engagements, but it ain't strategy work, and it seems that the word will get out pretty quickly that this name change is just cosmetic.
What does everyone think? Does this increase the prestige of the group at all or not really?