Document
The font iwona does not contain an alternative for the ampersand. Therefore, a different font is needed for this symbol, when the more common form is preferred. The following example uses the ampersand from the CM Bright fonts (also package cm-super should be installed). Two alternatives are in the comments.
\documentclass[a4paper,12pt]{article}
\usepackage{amsmath}
\usepackage[T1]{fontenc}
\usepackage[math]{iwona} %nice font
\renewcommand{\mathsterling}{\textrm{\textsterling}}
\makeatletter
\DeclareRobustCommand*{\&}{%
\nfss@text{%
%\fontfamily{lmss}%
%\fontfamily{LinuxBiolinumT-TLF}%
\fontfamily{cmbr}%
\selectfont
\symbol{`\&}%
}%
}
\makeatother
\usepackage{hyperref}
\begin{document}
\section{EAL \& SEN}
A \& B
\end{document}

Bookmarks
The font in the bookmarks cannot be changed, because the bookmarks in the PDF file are simple text strings without font information (except that bold or italic could be specified for a whole bookmark title string). The fonts are chosen by the PDF viewer, see the comment of Paul Gessler.