Preheat your oven to 400°F (200°C). Line a baking sheet with parchment paper.
In a large bowl, whisk together 2 cups all purpose flour, ⅓ cup granulated sugar, 1 tablespoon baking powder, and ½ teaspoon salt.
Add ½ cup cold, cubed unsalted butter to the flour mixture. Using your fingers or a pastry cutter, work the butter into the flour until the mixture looks like coarse crumbs with some small pea sized pieces.
Fold in 1 cup of diced peaches and toss them gently through the flour mixture until evenly coated and distributed.
In a small bowl, whisk together ½ cup heavy cream, 1 large egg, and 1 teaspoon vanilla extract. Pour the wet mixture into the dry ingredients and gently stir until just combined. If the dough feels too wet add flour a tablespoon at a time. If it feels too dry add cream a teaspoon at a time. Do not overmix.
Turn the dough out onto a lightly floured surface and gently shape it into a round about 1 inch thick.
Cut the dough into 8 wedges and place them on the prepared baking sheet, spacing them slightly apart.
Bake for 16 to 18 minutes, until the tops are lightly golden.