See my link above. I don't think its an uncommon term although you'd need a little knowledge of corporate culture to be familiar with it. I think it's more prevalent in the US than it is here.
Wyatt, I shrink from suggesting it because making such slips is so out of character for you, but is there an error on the composition of your anagram? Too many Ys, too few Ls?
I don't think it has to be "necessarily" so. In a case such as this I think the definitition ("friend" here) just has to be a possible definition for the word that the solver has to find, not a complete or totally exact one.
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