CHARLOTTETOWN -- Former New Brunswick Premier Frank McKenna says he's not interested in seeking the leadership of the federal Liberal party.

McKenna, who stepped down as premier in 1997 after 10 years in power, says he's made his contribution to the public life and believes he's reached his "due date" as a politician.

When asked about the buzz surrounding a possible bid by Montreal MP Justin Trudeau, McKenna says it would be a mistake to think Trudeau would be unbeatable if he entered the race.

McKenna, now deputy chairman of TD Bank Financial Group, said: "Foregone conclusions are almost always wrong."

The party's leadership convention -- the third such race in six years -- is slated for April 14, 2013.

Constitutional lawyer Deborah Coyne has already announced her candidacy, as has Shane Geschiere, a Manitoba paramedic.