Mob names with Team Colors

adding a mob that has a custom name to a scoreboard team which has a color assigned to it, the mobs name does not change color

How to Reproduce
1. Create a scoreboard team with a color
/scoreboard teams add [team name]
/scoreboard teams option [team name] color [some color here]
2. summon a random mob with a custom mob
3. join the mob to the team