NEW YORK – Bisys, the provider of back-office services for financial institutions, is considering a management-led buyout, according to Wall Street sources. Top managers have hired Bear Stearns to review the sale of the company and they are leaning towards a management buy-out. The company has struggled lately with accounting issues that have required a restatement of earnings, as well as scandals regarding its fund administration business, which required it to a total of $81.5 million to shareholders and the Securities and Exchange Commission to settle civil charges.
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