Red tape, but overall supportive environment.
Pros
The new upper management is genuinely interested in turning this previously corporate entity into a more innovate place. So they're trying to turn away from the corporate stigma and embrace a younger, more 'startup' like vibe. This is great in that new, creative ideas are considered and not immediately turned away. The people here are smart and driven. It's a great network to be a part of.
Cons
Even with the attempt to be 'hipper', there are still quite a few team members who were there back when the company was a bit more straitlaced, so there's still a lot of red tape, and not everyone is willing to accept 'innovation'—it really depends which branch office you work at. San Francisco is probably the best place to be. The employees there have more camaraderie, and tend to work and play together more. Other branches are a bit more isolated from the feeling of being a part of something bigger.