Abstract This study shows that a reduction in vertical mixing applied inside the Atlantic basin can drastically increase North Atlantic Deep Water (NADW) stability with respect to freshwater perturbations applied to the North Atlantic. This is contrary to the notion that the stability of the ocean’s thermohaline circulation simply scales with vertical mixing rates. An Antarctic Intermediate Water (AAIW) reverse cell, reliant upon upwelling of cold AAIW into the Atlantic thermocline, is found to be associated with stable states where NADW is collapsed. Transitions between NADW “on” and “off” states are characterized by interhemispheric competition between this AAIW cell and the NADW cell. In contrast to the AAIW reverse cell, NADW eventually upwells outside the Atlantic basin and is thus not as sensitive to changes in vertical mixing within the Atlantic. A reduction in vertical mixing in the Atlantic weakens the AAIW reverse cell, resulting in an enhanced stability of NADW formation. The results also suggest that the AAIW reverse cell is responsible for the stability of NADW collapsed states, and thereby plays a key role in maintaining multiple equilibria in the climate system. A global increase of vertical mixing in the model results in significantly enhanced NADW stability, as found in previous studies. However, an enhancement of vertical mixing applied only inside the Atlantic Ocean results in a reduction of NADW stability. It is concluded that the stability of NADW formation to freshwater perturbations depends critically on the basin-scale distribution of vertical mixing in the world’s oceans.