regexReplaceAll function helped me resolve the issue. it replaces the matched value from variable. In my case &
Here it is < $regexReplaceAll(ClientName,"&","")$>
< a href="mailto:xyz@abc.com?subject=ACTION REQUIRED: < $regexReplaceAll(ClientName,"&","")$> is in your workflow queue | PID: < $xProject_ID$> | DID:< $dID$> | Approve">"