About creating annotation feature classes
You can create feature-linked annotation only in ArcGIS for Desktop Advanced and ArcGIS for Desktop Standard.
You can create an empty annotation feature class and create the annotation for it later, or you can create an annotation feature class with annotation by converting a display of dynamic labels in ArcMap to a new annotation feature class.
When you create an empty annotation feature class in the Catalog tree, you specify the annotation classes for it.
Learn about annotation classes
When you create a new feature linked annotation feature class it will use the default label engine, default font name and default font size.
When you create a new standalone annotation feature class it will use the default font name and default font size.
You can change the default label engine to the Maplex Label Engine and set a different font name and size for labeling.
Learn more about setting ArcMap options
Learn about working with the Maplex Label Engine