Yes. In the data I converted from 2013 I had to move all contracts, belts, events etc to WWE from NXT. I renamed NXT (child company) to WWE Developmental Center and used it as a dev company so it didn't do its own hiring. I then used the brand split to corral NXT talent on my roster so they could only appear on the NXT show, and sent anyone who wasn't ready for NXT TV down to the developmental center to train.
Of course there's other ways to do it to suit one's vision of controlling your company.