Yes, it is possible to have various hotkey setups and have them automatically change when you switch characters.
To do so, open Options -> Hotkeys and make sure that "Auto-Switch Hotkey Preset" is enabled. After that, make sure that the hotkey configuration that you want to change to when your character logs in is named exactly as your character. Eg. in my case, the hotkey configuration is named "Ellotris Guardian" and it will be automatically switched to, when I log in with that character.
There's also a message in the Server Log when the hotkey setup gets automatically changed:
18:54 Switched to hotkey preset 'Ellotris Guardian'.