A parcel bomb addressed to the Deutsche Bank CEO Josef Ackermann was found on Wednesday afternoon in the mail room of the bank's Frankfurt office.
63-year-old Ackerman is one of the most powerful bankers in Europe and advises German Chancellor Angela Merkel on the Eurozone crisis. Recently he has been working towards reducing the Greek debt.
It was not immediately clear whether Ackermann's role in the debt crisis or some other grievance was the reason for targeting him personally.
The bomb did not explode as it was uncovered by an x-ray machine. It is said by early investigations to contain explosives and additional shrapnel for maximum devastation.
Reuters reported that it had a return address from the European Central Bank’s headquarters in Frankfurt.
In New York, as a result of the bomb threat, police are stepping up security at the bank's US headquarters.