(CNN) -- Authorities are investigating a letter bomb addressed to the CEO of Deutsche Bank that was delivered to the bank's headquarters in Frankfurt, Germany, police said Wednesday. The device, which contained shrapnel, was detected in the bank's mail room around 1 p.m. local time, said New York Deputy Police Commissioner Paul Browne. It did not detonate. "The return address was listed as a European central bank, which would likely increase the chances of him opening it," said Browne, who urged a general increase in mail room security. "A suspicious letter was received today at Deutsche Bank, addressed to Dr. (Josef) Ackermann," said bank spokesman Ronald Weichert. "In-house departments concerned alerted the police," who then launched an investigation. Browne said the incident prompted New York authorities to increase security around Manhattan's Deutsche Bank offices. CNN's Susan Candiotti and Diana Magnay contributed to this report .
A letter bomb is addressed to the CEO of Deutsche Bank . It is delivered to the bank's headquarters in Frankfurt, Germany, police say . New York's deputy police commissioner says the device was detected in the bank's mail room .