Preheat oven at 190°C/375°F. Grease and flour a springform pan.
Beat butter, sugar, eggs and milk until creamy. Add flour, almond flour and baking powder. Mix to combine.Pour the batter into the prepared pan and arrange the peach wedges on top. Bake for 40-45 minutes.
Remove the cake from the oven and sprinkle it with sugar and some cubed butter. Bake for about 15 more minutes or until golden, and a toothpick inserted in the center comes out clean.