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The tax paid will be on profit and how much this is will be determined by the transfer pricing scheme the investment manager operates.
The Basel 3/4 regulations won't change for banks in the UK in the medium term (nor Solvency 2 regulations for insurers).
hurricane_run-
The profits will be generated in EU bases though if the services need EU access?
Sounds to me the UK will still lose tax revenue.
The dodgy dealings of the city of London helping with moving stolen dictator money/ offshore UK tax havens won't really change (for now)
How much tax and other revenue that CoL work brings to the UK I really don't know.
JWestland
But in doing so (I believe, someone who knows can correct me) they've moved some / all of the capital out of the UK to that other country.
The UK can no longer get revenue from taxing it, or make decisions on the rules it has to abide by.