The election was made at the EFAMA annual general meeting, held by The Investment Association in London on 23 June.
Nott succeeds Alexander Schindler, who had been president since 2015.
Nicolas Calcoen, CFO of Amundi, was elected as vice-president of the association.
Nott is chief executive of M&G Securities, a position he has held since 2006, and is also chief strategy officer for the M&G Group.
He has served on the EFAMA board of directors and the board of The Investment Association for a combined total of 16 years.
Calcoen has been with Amundi since 2012, and is also head of finance and strategy at the group, alongside his CFO position. He has been a member of the EFAMA board of directors since 2012.
Nott said: “It is a great honour and responsibility to be entrusted with the presidency of such a highly successful and well respected association. I look forward to continuing the excellent work of our outgoing president Alexander Schindler, who has been unrelenting in ensuring the views and concerns of EFAMA and its members have been clearly heard by policymakers and regulators.”
According to EFAMA, the new board will focus on building investor confidence and supporting investor-centric legislation, and on helping to build up a well-functioning capital markets union.
It will also continue to support good governance of the industry and build on competitiveness, while striving to increase recognition of the UCITS and alternative investment fund brands.
Peter De Proft, director general of EFAMA, commented: “EFAMA is resolute to actively engage in the global and European regulatory debates that govern and drive our business model in a new European world. Our new Presidency will surely help us achieve this.”
“With William Nott and Nicolas Calcoen, a talented team in place in the EFAMA secretariat, and the indispensable support of our members, we will continue to work alongside policymakers and regulators to build the best possible regulatory environment for our industry.”