SOURCE: Brocade

Brocade

February 10, 2011 08:00 ET

Brocade Wins Grand Prize for Forward-Thinking Risk Management Models at the 2010 Association for Financial Professionals Award Ceremony

Culture of Innovation Fuels Thought Leadership in Business Process Transformation

SAN JOSE, CA--(Marketwire - February 10, 2011) - Brocade® (NASDAQ: BRCD) today announced it has been awarded the Association for Financial Professionals' (AFP) 2010 Pinnacle Grand Prize, which recognizes thought leadership and excellence in finance and treasury departments. The Pinnacle Grand Prize, sponsored by Wells Fargo & Co., was presented to Jean Furter, Brocade Vice President and Treasurer, at the AFP Annual Conference.

Brocade won the award for developing a process to converge strategic liquidity planning with enterprise risk management (ERM). The team developed detailed simulations of disasters, including response and business recovery processes, modeled the financial impact of the simulated disasters using the Company's strategic liquidity planning processes and used the outcome of this financial analysis to prioritize risk mitigation and investments.

The Brocade culture of innovation and thought leadership extends beyond technology and product development, as reflected by this prestigious award. The ability to attract, recruit and develop top talent at all levels of the company is one of the reasons Brocade was recently named one of Fortune Magazine's "100 Best Companies To Work For" for the second year in a row.

"Brocade is an environment where innovation and thought leadership are encouraged and celebrated," said Jean Furter, Vice President and Treasurer at Brocade. "We are honored to win the AFP Pinnacle Award Grand Prize for our achievements in risk management strategies. As our customers' business processes must transform to changing imperatives and economic situations, we are in a unique position to apply this same innovative spirit to solving our customers' networking challenges."

The new risk management modeling process is one of several programs that the Brocade Treasury department has implemented over the last few years under Furter's leadership to increase the strategic focus of the department and to achieve "business intimacy" with business partners throughout the company.

The Pinnacle Award Grand Prize was selected from the winners in the three Pinnacle Awards categories: risk, strategy and innovation. Brocade received the Pinnacle Award Grand prize in the risk category. Brocade was able to donate its prize winnings to a charitable organization and selected Morgan Autism Center to receive $10,000 from the sponsor organization, Wells Fargo.

"AFP is extremely proud to honor the 2010 Pinnacle Award Grand Prize winner," said Jim Kaitz, AFP President and CEO. "The solutions presented by Brocade demonstrate transformation of the treasury function, as well as forward-thinking in a year of great change."

AFP's membership includes over 150,000 treasury and financial professionals worldwide and the AFP annual conference is the largest meeting of corporate treasury and finance professionals in the United States. This year's conference attracted more than 5,000 attendees, including former U.S. Secretary of State Condoleezza Rice.

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About Brocade
Brocade (NASDAQ: BRCD) networking solutions help the world's leading organizations transition smoothly to a world where applications and information reside anywhere. (www.brocade.com)

Brocade, the B-wing symbol, BigIron, DCFM, DCX, Fabric OS, FastIron, IronView, NetIron, SAN Health, ServerIron, TurboIron, and Wingspan are registered trademarks, and Brocade Assurance, Brocade NET Health, Brocade One, Extraordinary Networks, MyBrocade, VCS, and VDX are trademarks of Brocade Communications Systems, Inc., in the United States and/or in other countries. Other brands, products, or service names mentioned are or may be trademarks or service marks of their respective owners.

(C) 2011 Brocade Communications Systems, Inc. All Rights Reserved.

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