Can my co-author remove my name from our paper because I am leaving my current institution
It's unlikely that the editors would do that on their own (how would they even know that you're leaving your current institution?)

If your professor asks the editors to remove your name, that would/should at least trigger some checks by the editors about whether you agree with the removal. 

Additionally, some journals have policies against modifying the authors' list at various stages: some immediately after submission, some after acceptance.

Such a move by your professor should probably be considered unethical, but it is not what you asked.