For the sake of argument...
Lets say:
X = Bob's Business Konsulting
Y = Goldman Sachs
Personally, I think it would be pretty deceiving to list:
Code:
Goldman Sachs 2002-Present
Senior Manager
When in fact, you don't work for Goldman.
Moreover, how would you then explain a reference from Bob's Business Konsulting? (unless of course you plan to get them from Goldman)....
In any case, you'd be intentionally misrepresenting your background - although a rather simple and "explainable" issue, at best, its on dubious ethical grounds. At worst, its significant enough to possibly get your offer rescinded. (I mean, when you really boil it down, you would be, in effect, lying about who you work for)
Moreover - its just unnecessary to misrepresent like this - you have essays, rec forms and the resume to make it clear that you are effectively working directly for Goldman (or whoever company Y is)
For instance, whats wrong with:
Code:
Bobs Bidness Konsulting 2002-Present
Senior Manager
* Managing CDO analysis effort at Goldman Sachs, reporting directly to the Executive Director of MoneyMaking.
* Assist Goldman with development of CDO, CMO, C3PO ...
* Provided strategic feedback on new coffee machine flavors
* Work in fast paced sexually charged environment in NYC and London offices.
Still makes it pretty clear that you spend your days at Goldman and that you report to Goldman management.... That, plus your essays, plus your recs, should make it abundantly clear who you "report to"...
Now that said....
This is just my personal take on it. You could list the company itself and just take the risk that someone call you on it, but personally, I wouldn't.