Yes.  The email is called a Donor Notification Email.  To manage it, please complete the following:
  1. Go to Control > Administration > Tools: Confirmations Library
  2. Select Custom FAF from the drop down. 
  3. Click Edit for the FAF - Notification to Personal Page Owner for donation. 
  4. To add content to the standard notification email, select Use Account Customized Text
  5. Click Edit Email
  6. Use the content editor section to manage the notification email.
  7. Save